Bitcoin Bull Market Cycle Ends, CryptoQuant’s Ki Young Ju Reports

CryptoQuant's founder Ki Young Ju stated that the Bitcoin (BTC) bull market has ended, predicting 6-12 months of bearish or sideways price action due to declining market liquidity. Key points include:

• Ju noted a lack of new liquidity, with the on-chain realized cap stalling and significant outflows from BlackRock’s IBIT.
• Despite high trading volume near $100K, BTC's price showed minimal movement, indicating heavy selling pressure.
• A report suggested BTC could return to $63K, citing bearish signals from valuation metrics like the MVRV Ratio Z-score.
• The MVRV Z-score's drop below its 365-day moving average historically precedes deeper corrections or bear markets.
• The $75K-$78K support level is critical amid weakening demand and net selling by U.S.-based spot ETFs.
• Analysts warn that sustained weakness in U.S. equities and economic uncertainty may further impact crypto markets negatively.
• Polymarket bettors estimate a 51% chance BTC will close between $81-$87K this week, and a 31% chance it reaches $75K by month-end.
• Bitcoin's value has decreased by 15% over the last month, erasing post-election gains.