CryptoQuant CEO Ki Young Ju announced that the Bitcoin bull cycle has ended, predicting 6 to 12 months of bearish or sideways Market activity. This update comes after he had recently shown a more cautious but optimistic outlook. He highlighted the Bitcoin PnL Index Cyclical Signals, which track several on-chain metrics to identify price trends. Ki noted that new investors, or “whales,” are selling Bitcoin at lower prices due to decreasing liquidity. Just days ago, he had indicated that while demand was weak, it was too early to declare a bear Market. Currently, Bitcoin prices are around $83,059, reflecting shifts in Market sentiment and investor behavior.
CryptoQuant CEO Ki Young Ju announced today that the Bitcoin bull cycle “is over” and warned investors to prepare for “6–12 months of bearish or sideways price action.” This significant shift in outlook comes as the CEO reflects on recent Market indicators that suggest potential declines ahead. Just two weeks ago, he maintained a cautious but optimistic view of the Market, which makes today’s announcement even more striking.
Is The Bitcoin Bull Run Over?
In his social media post, Ki echoed his sentiment with a stark prediction: “Bitcoin bull cycle is over, expecting 6–12 months of bearish or sideways price action.” He referenced the Bitcoin PnL Index Cyclical Signals, which utilizes various on-chain metrics, including MVRV, SOPR, and NUPL, to identify Market trends. This index has a history of providing reliable signals for buying and selling Bitcoin.
Ki emphasized the importance of these metrics and how they can aid investors. He shared that his subscribers were alerted about this trend change days ago, allowing them to make adjustments to their positions. “With fresh liquidity drying up, new whales are selling Bitcoin at lower prices,” he noted, suggesting a shift in Market dynamics.
This change in perspective marks a contrast to his earlier comments from just four days ago, where he suggested demand for Bitcoin was stagnant but not definitively a sign of a bear Market. Back then, he presented data showing a slight decline in demand, warning that a reversal could be on the horizon.
Even more surprising is how radically his tone has shifted since he was previously confident about the strength of the bull cycle, citing robust fundamentals and increased mining capacity as reasons for his optimism. He had urged caution before but indicated that Market sentiment could flip, particularly with external factors in the United States.
As of now, Bitcoin is trading at $83,059 and investors are left grappling with this sudden change in sentiment.
Tags: Bitcoin, CryptoQuant, Ki Young Ju, Market outlook, cryptocurrency news, bear Market
What is CryptoQuant’s recent alert about?
CryptoQuant’s CEO has raised concerns about Market risks, indicating that traders should be cautious. The warning is about possible price fluctuations in the crypto Market.
Why should traders pay attention to this warning?
Traders should take this warning seriously because it suggests that there could be significant changes in prices. Being aware can help them make better decisions.
What factors are causing the Market alarm?
The Market alarm is based on a mix of factors including changes in trading volumes, price trends, and broader economic signs. These can all affect how cryptocurrencies perform.
How can traders protect themselves during uncertain Market times?
To protect themselves, traders can use strategies like setting stop-loss orders, diversifying their investments, and staying updated on Market news.
Where can traders find more information on this topic?
Traders can find more information by following CryptoQuant’s official updates, as well as checking financial news sites like TradingView for the latest insights on the crypto Market.