CryptoQuant CEO Says Bitcoin Bull Cycle is Not Over as BTC Drops to $78K

CryptoQuant founder and CEO Ki Young Ju has reaffirmed his bullish stance on bitcoin despite recent market fluctuations. The world’s largest cryptocurrency, bitcoin, is currently trading at $78,888, representing an over 8% decline in the last 24 hours. This value is the asset’s lowest level since November 11.

The current downturn is influenced by several factors, including uncertainties surrounding U.S. President Donald Trump’s tariff plans and crypto policy. Additionally, there has been reduced investor confidence following the whopping $1.5 billion hack on the popular crypto exchange Bybit. 

CryptoQuant CEO Sees 75K as Critical Support Threshold

In response to the bearish sentiment engulfing the market, analyst Ju expressed his confidence in the continuation of the Bitcoin bull market. He stated that the cycle is not over. 

He highlighted that while significant corrections of up to 30% can occur during bull markets, they do not necessarily signal the end of the upward trend. This outlook suggests that investors should prepare for volatility, yet remain confident in the long-term upward trend.

Historically, such corrections have been common in Bitcoin bull cycles. For instance, in 2021, Bitcoin experienced a 53% drop, yet recovered to reach a new all-time high. 

According to the CryptoQuant analyst, Bitcoin spot trading volume is highly active around $100,000. Therefore, the market is currently in the distribution stage and the price trend will depend on whether new liquidity is exhausted.

However, he emphasized that while he is bullish about the current cycle, if Bitcoin’s value falls significantly below $75,000 which he sees as the critical support threshold, he would reassess his position.

“The cycle I’m referring to includes a potential 30% drawdown at some point. If the price drops significantly below 75K, I’d be wrong,” he stated. 

Market Outlook 

Ki’s positive outlook adds to the ongoing debate about the sustainability of the current bull run and the potential for significant corrections within it. His perspective aligns with the opinions of other market experts, suggesting that while corrections are normal, a drop below key support levels could indicate a shift in market dynamics. 

On-chain metrics show that the number of active Bitcoin addresses increased by 5% over the past week. This increase, signals growing network activity and the potential for further price appreciation