In this paper, multifractal analysis together with wavelet transform modulus maxima (WTMM) method is used to analyze the fluctuating signals of circulating fluidized bed (CFB). Singularity spectrum shows that the gas-particle flow in CFB has multifractal character. Motion behavior of the particle-fluid system of CFB can be described by singularity spectrum. Intermittency index can be used to determine the transition of flow regime from fast fluidization to pneumatic conveying.