CryptoQuant CEO Ki Young Ju Has Warned That the Bitcoin Bull Market May Have Ended

CryptoQuant CEO Ki Young Ju has warned that the Bitcoin bull market may have ended. He expects BTC prices to remain bearish or move sideways for the next 6 to 12 months.

CryptoQuant CEO Ki Young Ju has a bleak prediction for Bitcoin (BTC) in the next six to twelve months: He expects bearish movements or sideways trading.

Ju, known for his optimistic market takes earlier this month, has now changed his stance. Previously, Ju said the Bitcoin bull market was still active, even if growth was slow. However, on-chain metrics now show bearish conditions, he stated.

Ki Young Ju, CEO of crypto analytics platform CryptoQuant. Source: LinkedIn

Realized cap-based indicators show a lack of new liquidity entering the market, Ju said. A realized capitalization is an on-chain indicator tracking the total value of all Bitcoins based on when they were last moved. Despite massive trading volumes around the $100,000 level, BTC price failed to rise further, Ju added.

“Despite $1B+ daily volume at the $100,000 level for a week, BTC price failed to move up further. It seems like realized cap-based indicators are showing no new liquidity is coming into the market,” Ju said.

Moreover, inflows into Bitcoin ETFs (Exchange-Traded Funds) have been negative for three consecutive weeks. Negative ETF inflows indicate that investors are pulling money out of these investment vehicles.

“Bitcoin ETF products have shown negative outflows for 3 consecutive weeks. Investors seem to be exiting their crypto positions via ETFs.”

Ju also noted that new whales—investors holding large amounts of Bitcoin—are selling at lower prices. This selling, combined with drying liquidity (less new money flowing into Bitcoin).

The post CryptoQuant CEO Predicts 6-12 Months of Bearish Bitcoin Price Movement appeared first on iTrade.