CryptoQuant CEO Ki Young Ju Says Bitcoin Bull Cycle is Over

CryptoQuant’s CEO, Ki Young Ju, has revised his earlier bullish prediction for Bitcoin. He now asserts that the bull market is over and anticipates a bearish or sideways price movement for the next six to twelve months.

This is a stark reversal from his March 4th statement, in which he initially thought the bull market cycle was slow but still going. Notably, he claims that all indicators currently point towards a bear market, citing the drying up of fresh liquidity and the selling activity of new “whales” at lower prices.

Nonetheless, this shift aligns with recent observations of Bitcoin funding rates hovering near zero, reflecting indecisiveness among traders.

Crypto Quants Ki Young Ju Revise Analysis

Young Ju’s bearish outlook stems from a comprehensive on-chain analysis. It employs Principal Component Analysis (PCA) on metrics such as MVRV, SOPR, and NUPL and uses a 365-day moving average to pinpoint trend shifts.

Adding to the worries, economist Peter Schiff, who is critical of Bitcoin, also sees problems. He says that the drop in the NASDAQ stock market could mean Bitcoin will fall even more.

Notably, he predicts a possible drop to $65,000 or even $20,000 in a really bad scenario. Also, Bitcoin miners have recently sold over $27 million worth of Bitcoin, which could make the market go down further.

Analyst Diverse Bitcoin (BTC) Analysis

Young Ju’s bearish assessment is not universally shared. Swyftx lead analyst Pav Hundal counters that there is no cause for panic, attributing recent investor apprehension to factors like President Trump’s tariffs.

Furthermore, Hundal emphasizes the positive indicators within the global economy, suggesting that capital will flow towards risk assets when market conditions are favorable.

Other analysts share this viewpoint, citing the recent all-time high in the global M2 money supply as a potential catalyst for Bitcoin’s rise. Crypto analyst Seth, for instance, predicts a Bitcoin rally based on this metric.

Conversely, some analysts hold a more pessimistic outlook. Former Phunware CEO Alan Knitowski argues that Bitcoin’s current price is significantly below its historically expected lower bound, suggesting a considerable undervaluation.

Additionally, he calculates this lower bound to be around $250,000 based on historical cyclical data. While Swan Bitcoin CEO Cory Klippsten maintains a relatively optimistic stance, estimating a greater than 50% chance of reaching all-time highs before June, the current market sentiment remains volatile.