Market Alert: CryptoQuant CEO Declares End of Bitcoin’s Bull Cycle
In a shocking development that has sent ripples through the crypto market, CryptoQuant CEO Ki Young Ju has declared that Bitcoin’s bull cycle is officially over. The announcement comes as Bitcoin trades near $83,000, with Ki warning investors to prepare for an extended period of bearish or sideways price action lasting 6-12 months.
Technical Analysis Signals Major Market Shift
Ki’s analysis is based on the Bitcoin PnL Index Cyclical Signals, a sophisticated metric combining multiple on-chain indicators including MVRV, SOPR, and NUPL. This comprehensive analysis tool has demonstrated remarkable accuracy in identifying major market turning points throughout Bitcoin’s history.
Key Warning Signs:
- Drying liquidity conditions
- Increased selling pressure from new whale entities
- Negative shift in 365-day moving average trends
- Deteriorating market sentiment indicators
SPONSORED
Trade Bitcoin with up to 100x leverage and maximize your profit potential
Market Implications and Expert Analysis
The dramatic shift in Ki’s outlook is particularly notable given his previously bullish stance just two weeks ago. This reversal suggests a significant deterioration in market fundamentals that could trigger a prolonged correction phase.
What This Means for Traders
Investors should consider implementing defensive strategies and preparing for increased market volatility. The potential for extended sideways or bearish price action could create opportunities for accumulation at lower levels.
Looking Ahead: Key Levels to Watch
While the immediate outlook appears bearish, historical data suggests that such market corrections often set the stage for future rallies. Traders should monitor key support levels and on-chain metrics for signs of potential trend reversals.