CryptoQuant CEO Announces End of Bitcoin Bull Cycle with Bearish Outlook
Ki Young Ju, CEO of CryptoQuant, stated that Bitcoin's bull cycle has concluded, predicting 6–12 months of bearish or sideways price action. This announcement follows his prior cautious outlook.
Key Points:
- Ki announced the end of the Bitcoin bull cycle via X, citing expected sideways movement.
- He referenced the Bitcoin PnL Index Cyclical Signals, which combines metrics like MVRV, SOPR, and NUPL for market analysis.
- An automated alert to subscribers indicated a key trend change in the 365-day moving average, historically signaling market shifts.
- New selling pressure from “new whales” at lower prices contributes to market conditions.
- His previous statements had suggested caution but left room for potential rebound, noting a decline in Bitcoin demand.
- At the time of reporting, Bitcoin was trading at $83,059.
