Bitcoin's Bull Market Cycle is Over, CryptoQuant's Ki Young Ju Says

The Bitcoin (BTC) bull marketplace is over, according to crypto probe steadfast CryptoQuant's laminitis Ki Young Ju.

Ju posted connected X that helium is expecting 6-12 months of bearish oregon sideways terms enactment arsenic the BTC bull tally loses steam, citing declining liquidity successful the market.

"New liquidity is needed. The on-chain realized headdress has stalled, signaling nary caller superior inflows. For example, BlackRock’s IBIT saw 3 consecutive weeks of outflows," helium said successful a Telegram enactment to CoinDesk. "Even with grounds measurement adjacent $100K, Bitcoin’s terms hardly moved. Without caller liquidity to offset dense selling, this is simply a bearish signal."

A caller study from CryptoQuant made the lawsuit for the anticipation of BTC's instrumentality to the $63K mark, citing bearish signals from cardinal valuation metrics similar the MVRV Ratio Z-score, which compares bitcoin’s marketplace worth (MV) to its realized worth (RV) to place overbought oregon oversold conditions.

The MVRV Z-score dropping beneath its 365-day moving mean signals that BTC's terms momentum has weakened, historically aligning with deeper corrections oregon the onset of carnivore markets.

The $75K-$78K enactment level is critical, CryptoQuant analysts noted, arsenic weakening BTC demand, marked by slowing whale accumulation and nett selling by U.S.-based spot ETFs, continues to adhd downward pressure, expanding the hazard of a deeper terms correction.

This echoes what LMAX Group's Joel Kruger and Coinbase Institutional's David Duong recently told CoinDesk, with some informing that sustained weakness successful U.S. equities amid economical uncertainty and planetary tensions could exacerbate bearish unit connected crypto markets, with stagflation besides a possibility.

Polymarket bettors are giving a 51% accidental that BTC ends the week betwixt the $81-$87K range, and a 31% accidental it hits $75K by the extremity of the month.

In the past month, bitcoin is down 15%, according to CoinDesk Indices data, with its decline erasing immoderate post-election gains.