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- CryptoQuant’s Ki Young Ju, once a beacon of bullish hope, now sings a different tune, predicting a 6–12 month hibernation for Bitcoin.
- But wait! Historical whispers suggest Bitcoin might just surprise us all and leap over its all-time high by mid-2025. 🎢
Ah, Bitcoin [BTC], the ever-volatile darling of the digital realm, has taken a nosedive, sending shockwaves through the market. As the charts twist and turn, experts are scratching their heads, pondering the fate of this digital phoenix. According to CoinMarketCap, BTC is currently lounging at $81,896.71, having slipped a modest 0.46% in the last 24 hours. Talk about a dramatic entrance!
Ki Young Ju’s Bitcoin Warning
In a plot twist worthy of a soap opera, CryptoQuant CEO Ki Young Ju, who once scoffed at bearish murmurs, now warns that the bull cycle may have bid adieu.
In a tweet that sent ripples through the crypto community, Ju proclaimed,
“#Bitcoin bull cycle is over, expecting 6–12 months of bearish or sideways price action.”
What is Exec’s Reasoning?
Ju’s latest musings reveal a troubling shift in Bitcoin’s market cycle, with key on-chain metrics waving red flags for the next six to twelve months. Sharing a chart of BTC’s Profit and Loss (PnL) Index, he suggests that our dreams of a swift rebound might be just that—dreams. 😴
Liquidity inflows are dwindling, and the newly minted whales are playing a game of hot potato with their holdings, selling off at lower prices. Who knew whales could be so fickle?
Ju even dusted off his Principal Component Analysis (PCA) skills, applying them to indicators like MVRV, SOPR, and NUPL, using a 365-day moving average to sniff out trend reversals. Because why not complicate things further?
Yet, some traders remain skeptical, recalling how Ju’s sell signal in 2020 turned out to be more of a suggestion than a prophecy.
What’s More?
Ju further highlighted a major warning sign for Bitcoin’s trajectory—the decline in fresh liquidity, the lifeblood of price stability and growth. Newly emerged whale investors are offloading their treasures at lower price levels, a classic sign of impending doom. 🐋💔
To add to the drama, institutional demand seems to be taking a vacation. ETF inflows have been negative for three consecutive weeks, a trend that often signals a waning interest in our beloved Bitcoin. Can you hear the crickets? 🦗
Ju, ever the realist, lamented,
“Sorry to change my view, but it now looks pretty clear that we’re entering a bear market.”
He wrapped it up with a dose of reality, saying,
“I can’t keep sharing just my hopes when the data keeps signaling bearish. I’m not going to short BTC and still hold my spot.”
Is There Any Hope?
Despite the current storm clouds, historical trends whisper sweet nothings of hope, suggesting Bitcoin could be on the brink of another major rally. An analysis of BTC’s price movements since 2015 reveals a seasonal growth pattern, with the most robust gains occurring between April and October. 🌸
If this trend holds, Bitcoin might just find its footing in the coming months before embarking on another upward journey. Some optimistic projections even hint that BTC could leap over its previous all-time high by mid-2025. 🚀
While short-term uncertainty looms like a dark cloud, long-term indicators may still hold the key to significant upside potential for our beloved cryptocurrency.
So, will Ju’s prediction come to pass, or will Bitcoin rise from the ashes once more? Only time will tell! ⏳
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2025-03-19 09:17