CryptoQuant’s head chief says Bitcoin’s bull market could already be over — changing his stance from earlier in the month when he said the Bitcoin bull cycle will be slow but “is still intact.”
“Bitcoin bull cycle is over, expecting 6-12 months of bearish or sideways price action,” CryptoQuant founder and CEO Ki Young Ju said in a March 17 X post.
All signals are currently bearish, says Ju
Ju said that all Bitcoin (BTC) onchain metrics indicate a bear market. “With fresh liquidity drying up, new whales are selling Bitcoin at lower prices,” Ju said.
It comes only days after Cointelegraph reported that Bitcoin funding rates, which reflect the cost of holding long or short positions in crypto futures, are hovering close to 0%, indicating increasing indecisiveness among traders.
Ju’s claim is in stark contrast to his March 4