‘Bitcoin bull cycle is over,' CryptoQuant CEO warns, citing onchain metrics
18 Março 2025 - 2:44AM
Cointelegraph


CryptoQuant’s head chief says Bitcoin’s bull market could
already be over — changing his stance from earlier in the month
when he said the Bitcoin bull cycle will be slow but “is still
intact.”
“Bitcoin bull cycle is over, expecting 6-12 months of bearish or
sideways price action,” CryptoQuant founder and CEO Ki Young Ju
said in a March 17 X
post.
All signals are currently bearish, says Ju
Ju said that all Bitcoin (BTC) onchain metrics indicate a bear
market. “With fresh liquidity drying up, new whales are selling
Bitcoin at lower prices,” Ju said.
It comes only days after Cointelegraph reported that Bitcoin
funding rates, which reflect the cost of holding long
or short positions in
crypto futures, are hovering close to 0%, indicating increasing
indecisiveness among traders.
Ju’s claim is in stark contrast to his March 4 post, where he
said the Bitcoin bull cycle will remain slow but “is still intact,”
pointing to neutral readings on key indicators.
“Fundamentals remain strong, with more mining rigs coming
online,” Ju said in a March 4 X
post.
Other analysts aren’t as bearish. Swyftx lead analyst Pav Hundal
told Cointelegraph that “there is no reason to panic.”
Hundal explained that while investors are “spooked” by US
President Donald Trump’s tariffs, “all the numbers show a global
economy that is pointing in the right direction.”
“Money will move to on-risk assets when the market is ready to
take on risk.”
At the time of publication, Bitcoin is trading at $83,030, down
14.79% over the past month, according to CoinMarketCap
data.
Bitcoin is down 14.89% over the past month. Source:
CoinMarketCap
Some analysts think that given that the global M2 money supply
has just reached new highs, Bitcoin could be set for an
uptrend.
“I’m saying Global Money Supply just made another new ATH. We
are about to see Bitcoin rally again,” crypto analyst Seth
said in a recent X
post.
Likewise, CoinRoutes CEO Dave Weisberger said that if the
historical trend persists, Bitcoin could reach all-time highs by
late April.
“Expect Bitcoin to hit a new ATH within a month if its BETA
correlation to money supply holds,” Weisberger
said in a March
17 X post.
Related: Bitcoin price fails to go parabolic as the US
Dollar Index (DXY) falls — Why?
However, based on historical data, Bitcoin’s current price is
67% lower than the lower bound should be, according to former
Phunware CEO Alan Knitowski.
“At this stage of the cycle, the lower bound of the historical
range should be around $250,000,” Knitowski
said in a March 17 X
post.
Source: Alan
Knitowski
Swan Bitcoin CEO Cory Klippsten recently told
Cointelegraph that “there’s more than a 50% chance we will see
all-time highs before the end of June this year.” Bitcoin’s current
all-time high of $109,000 was reached on Jan. 20, just hours before
Trump was inaugurated as US President.
Magazine: Crypto fans are obsessed with longevity and
biohacking: Here’s why
This article does not
contain investment advice or recommendations. Every investment and
trading move involves risk, and readers should conduct their own
research when making a decision.
...
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CryptoQuant CEO warns, citing onchain metrics
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