‘Bitcoin bull cycle is over,' CryptoQuant CEO warns, citing onchain metrics

Key Points

  • CryptoQuant CEO Ki Young Ju predicts a bearish or sideways Bitcoin market for the next 6-12 months, reversing his earlier stance.
  • Ju cites onchain metrics indicating a bear market, with new whales selling Bitcoin at lower prices.
  • Other analysts like Pav Hundal from Swyftx remain optimistic, suggesting no reason for panic despite current market conditions.
  • Some analysts believe Bitcoin could rally due to global money supply reaching new highs.

Summary

CryptoQuant's CEO, Ki Young Ju, has shifted his perspective on Bitcoin's market cycle, now predicting a bearish or sideways trend for the next 6 to 12 months. This change comes after he previously suggested that the bull cycle was still intact but would be slow. Ju's current outlook is based on onchain metrics showing a drying up of fresh liquidity and new investors selling Bitcoin at lower prices. Despite this, not all analysts agree with Ju's bearish outlook. Pav Hundal from Swyftx argues that there's no need for panic, pointing out that global economic indicators are positive, and money will flow back into risk assets when the market sentiment shifts. Additionally, some market observers like Seth and Dave Weisberger are optimistic, citing the recent peak in global money supply as a potential catalyst for Bitcoin's price to surge. However, historical data suggests Bitcoin's price is significantly undervalued compared to its expected range, with predictions of new all-time highs by late April or before the end of June.

cointelegraph
March 18, 2025
Crypto
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