Bitcoin Market Update: Trends Indicate End of Bull Cycle According to Ki Young Ju
CryptoQuant’s CEO Ki Young Ju forecasts the end of Bitcoin’s bull market, predicting bearish trends for 6-12 months due to declining liquidity. Key indicators suggest a potential price drop to $63,000, amid overall market uncertainty and decreased demand. Current projections show a 51% chance of BTC ending the week between $81,000-$87,000.
CryptoQuant’s founder Ki Young Ju has declared that the Bitcoin bull market has concluded, anticipating a phase of bearish or sideways price movement over the next 6 to 12 months due to diminishing market liquidity. He emphasizes a critical concern regarding the lack of new liquidity flowing into the market, which, according to him, is necessary for sustained price increases.
In his analysis, Ju notes that some key valuation indicators have turned bearish, suggesting a potential decline of Bitcoin (BTC) back to the $63,000 level. He particularly highlights the MVRV Ratio Z-score, which, when it falls below its 365-day moving average, often indicates weakened price momentum and foreshadows deeper corrections or bear market conditions.
Current trends show a substantial decrease in Bitcoin demand, evidenced by reduced whale accumulation and net outflows from U.S. spot exchange-traded funds (ETFs), which increase the risk of significant price corrections. Additionally, economic uncertainty and geopolitical tensions could further exacerbate these conditions, mirroring warnings from market experts such as LMAX Group and Coinbase Institutional analysts.
Market forecasts are reflecting these concerns, with Polymarket bettors estimating a 51% likelihood of Bitcoin concluding the week within the $81,000 to $87,000 range, contrasted by a 31% probability of it dropping to $75,000 by month-end. Recently, Bitcoin has experienced a notable decline of 15%, erasing previous gains following the elections, indicating intensified selling pressures in the crypto landscape.
In summary, Ki Young Ju’s insights indicate that the Bitcoin bull market may have reached its end, leading to a predicted 6-12 month period of bearish or stagnant price activity. This decline is attributed to liquidity concerns and bearish market indicators, with potential implications of diminished demand and broader economic factors adversely influencing the cryptocurrency market.
Original Source: www.coindesk.com
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