Ki Young Ju, the CEO of CryptoQuant, believes that the Bitcoin bull cycle has officially ended

Ki Young Ju, the CEO of CryptoQuant, believes that the Bitcoin bull cycle has officially ended. Bitcoin investors can expect a period of bearish or stable price

CryptoQuant CEO Ki Young Ju says he thinks the Bitcoin bull cycle has now come to an end.

In a recent analysis, Ju predicts that Bitcoin investors can expect a period of bearish or stable price movements for the next six months to twelve months.

The analyst says that the key factor driving his prediction is the withdrawal of fresh liquidity, leading to a scenario where whale investors sell their Bitcoin holdings at decreasing prices. To validate his analytical findings, Ju performs principal component analysis (PCA) on different on-chain metrics.

3 Key Bitcoin On-Chain Indicators

Three key on-chain indicators are used to assess Bitcoin market behavior. These are MVRV (Market Value to Realized Value), SOPR (Spent Output Profit Ratio), and NUPL (Net Unrealized Profit/Loss). A 365-day moving average is applied to track any significant changes in Bitcoin price movements.

From the analysis of this market data, a bearish trend is evident and beginning to take over the market.

However, Ju remains optimistic about Bitcoin’s long-term prospects despite his bearish market outlook in the short term.

Why Is Ju Bearish on Bitcoin?

According to Ju, several factors contribute to his negative market prediction. The indicators based on realized capital highlight that new investment flows are diminishing.

Furthermore, Bitcoin’s ability to keep ascending is coming to a halt, and trading volume reached high levels, which is now decreasing. In the past three weeks alone, the market has recorded negative exchange-traded fund (ETF) inflows.

This accumulation of evidence demonstrates that market buying power is diminishing at present.

Despite not expecting price decreases, Ju continues to be a Bitcoin holder. He maintains his support for Bitcoin and its enduring value.

However, the bearish market indicators are forcing him to acknowledge their presence, even as he retains his Bitcoin ownership.

As Ju predicts difficulties for Bitcoin in the upcoming months, his analytical data clashes with the continued optimism of some market participants.

Those interested can follow along with Ju’s analysis on CryptoQuant.com. Market participants are keenly observing for any signs that could herald a return of bullish momentum.