Ki Young Ju, CEO of CryptoQuant, has declared that the Bitcoin bull cycle is finished, forecasting a period of bearish or sideways price action lasting 6 to 12 months. He highlighted insights from the Bitcoin PnL Index Cyclical Signals, which monitor on-chain metrics for Market trends. Ki observed reduced liquidity and new whale investors selling Bitcoin at lower prices, indicating a shift in Market dynamics. Just days earlier, he expressed a more cautious outlook, suggesting that while Bitcoin demand was weakening, it was premature to deem it a bear Market. His recent announcement contrasts sharply with his previous optimism, reflecting a significant change in sentiment as Bitcoin’s price hovers around $83,059.
CryptoQuant CEO Ki Young Ju has announced a significant shift in the Bitcoin Market, stating that the current bull cycle is over. He urges investors to prepare themselves for a potential 6 to 12 months of bearish or sideways price action. This revelation follows his earlier cautious stance, as he had recently shared a more balanced outlook on the Market just two weeks ago.
In a post shared on social media platform X, Ki emphasized the importance of on-chain data, stating, “Bitcoin bull cycle is over, expecting 6–12 months of bearish or sideways price action.” He pointed to the Bitcoin PnL Index Cyclical Signals, a comprehensive index that tracks various on-chain metrics to identify critical Market points. Ki believes that this index has historically provided reliable buy and sell signals for traders.
Ki’s analysis revealed that drying liquidity in the Market and new whales, or large holders, are starting to sell Bitcoin at lower prices. According to him, subscribers to CryptoQuant who receive alerts were informed about this trend before today’s public announcement. This shift in sentiment is noteworthy, especially considering Ki’s previous assessment from just a few days ago, where he still saw the potential for demand to rebound.
Just days earlier, on March 14, Ki had expressed a more cautious view, suggesting that Bitcoin’s demand appeared to be stagnating. He had shared a chart demonstrating that the apparent demand for Bitcoin was slightly negative, signaling the beginning of a potential downturn. Despite this, he reassured followers that demand could rebound, as it has in similar past situations.
The change in Ki’s outlook is striking as he was positive about the Market‘s fundamentals only two weeks ago, suggesting that the bull cycle was still intact due to strong mining and on-chain activity. However, with today’s announcement, he acknowledges shifting Market dynamics and the potential for a longer period of poor performance.
At the time of this announcement, Bitcoin was trading at approximately $83,059, a reminder to investors to stay informed and consider their positions carefully as the Market evolves.
Tags: Bitcoin news, cryptocurrency trends, crypto Market analysis, Ki Young Ju, CryptoQuant, bearish Market predictions
What is the alarm that CryptoQuant’s CEO is sounding?
The CEO of CryptoQuant is warning about potential risks in the cryptocurrency Market. He believes traders should be cautious as prices may drop soon.
Why is the CEO concerned about the Market?
The CEO is worried due to recent Market trends showing instability. He thinks some indicators suggest a possible downturn, which could affect many investors.
What should traders do in response to this warning?
Traders should carefully monitor the Market and consider their strategies. It’s a good idea to manage risks and not make hasty decisions without adequate information.
Are there specific signs traders should watch for?
Yes, traders should look for signs like increased selling pressure, changes in trading volume, and overall Market sentiment. These could be important clues about future price movements.
How can CryptoQuant help traders make informed decisions?
CryptoQuant provides data analytics and insights that can help traders understand Market trends better. Using this information can help traders make smarter choices in their investments.