Bitcoin’s Bull Market Cycle Is Over, CryptoQuant CEO Issues Grim Warning
The Bitcoin bull market is already over, according to CryptoQuant CEO Ki Young Ju, who foresees 6-12 months of bearish or sideways price action.
Young Ju’s comments mark a reversal from his stance earlier this month when he predicted that the Bitcoin bull cycle would be slow but “is still intact”.
All On-Chain Metrics Indicate Bear Market: CryptoQuant
Ki Young Ju took to X on Tuesday to tell his 413,200 followers that the bullish Bitcoin cycle has officially come to an end.
Young Ju argued that all BTC on-chain metrics suggest we are entering a bear market. New liquidity is drying up, he believes, and newly emerged whales are currently selling their coins at lower prices.
“Realized cap-based indicators show a lack of new liquidity. Massive volume around 100K failed to push the price higher, and ETF inflows have been negative for three consecutive weeks,” the CryptoQuant founder wrote. “I can’t keep sharing just my hopes when the data keeps signaling bearish.”
Ju’s claim differs from his March 4 X post, where he asserted that the Bitcoin bull cycle will remain slow but “is still intact,” citing neutral readings on key indicators. “Fundamentals remain strong, with more mining rigs coming online,” Ju opined in the previous post.
Now, he is expecting 6-12 months of bearish or sideways price action as the BTC bull run loses steam.
In a recent report, CryptoQuant speculated that BTC could plummet all the way to the $63K level, citing bearish signs from key valuation metrics such as the MVRV Ratio Z-score. This particular metric compares Bitcoin’s market value (MV) to its realized value (RV) to identify overbought or oversold conditions.
The MVRV Z-score falling below its 365-day moving average indicates that BTC’s price momentum has waned — which is historically associated with the onset of bearish cycles.
CryptoQuant analysts emphasized that the support level around $75,000 and $78,000 remains critical as waning BTC demand, characterized by slowing accumulation by whales and outflows from U.S.-based spot ETFs continues to exacerbate downward pressure, increasing the risk of a full-blown bloodbath.
Other analysts are not as bearish. CoinRoutes CEO Dave Weisberger suggested the possibility of Bitcoin hitting a new all-time high by late April.
“Expect Bitcoin to hit a new ATH within a month if its BETA correlation to money supply holds,” Weisberger postulated in a March 17 tweet.
At the time of writing, Bitcoin has slid just around $82,500, having shed 1.2% in the past day, according to CoinGecko data.
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Bitcoin’s Bull Market Cycle Is Over, CryptoQuant CEO Issues Grim Warning
The Bitcoin bull market is already over, according to CryptoQuant CEO Ki Young Ju, who foresees 6-12 months of bearish or sideways price action.
Young Ju’s comments mark a reversal from his stance earlier this month when he predicted that the Bitcoin bull cycle would be slow but “is still intact”.
All On-Chain Metrics Indicate Bear Market: CryptoQuant
Ki Young Ju took to X on Tuesday to tell his 413,200 followers that the bullish Bitcoin cycle has officially come to an end.
Young Ju argued that all BTC on-chain metrics suggest we are entering a bear market. New liquidity is drying up, he believes, and newly emerged whales are currently selling their coins at lower prices.
“Realized cap-based indicators show a lack of new liquidity. Massive volume around 100K failed to push the price higher, and ETF inflows have been negative for three consecutive weeks,” the CryptoQuant founder wrote. “I can’t keep sharing just my hopes when the data keeps signaling bearish.”
Ju’s claim differs from his March 4 X post, where he asserted that the Bitcoin bull cycle will remain slow but “is still intact,” citing neutral readings on key indicators. “Fundamentals remain strong, with more mining rigs coming online,” Ju opined in the previous post.
Now, he is expecting 6-12 months of bearish or sideways price action as the BTC bull run loses steam.
In a recent report, CryptoQuant speculated that BTC could plummet all the way to the $63K level, citing bearish signs from key valuation metrics such as the MVRV Ratio Z-score. This particular metric compares Bitcoin’s market value (MV) to its realized value (RV) to identify overbought or oversold conditions.
The MVRV Z-score falling below its 365-day moving average indicates that BTC’s price momentum has waned — which is historically associated with the onset of bearish cycles.
CryptoQuant analysts emphasized that the support level around $75,000 and $78,000 remains critical as waning BTC demand, characterized by slowing accumulation by whales and outflows from U.S.-based spot ETFs continues to exacerbate downward pressure, increasing the risk of a full-blown bloodbath.
Other analysts are not as bearish. CoinRoutes CEO Dave Weisberger suggested the possibility of Bitcoin hitting a new all-time high by late April.
“Expect Bitcoin to hit a new ATH within a month if its BETA correlation to money supply holds,” Weisberger postulated in a March 17 tweet.
At the time of writing, Bitcoin has slid just around $82,500, having shed 1.2% in the past day, according to CoinGecko data.
Read More