CryptoQuant CEO Ki Young Ju marks the end of Bitcoin's bull cycle, anticipating price declines or sideways market movements.
Ki Young Ju's Analysis
In a recent post, CryptoQuant CEO Ki Young Ju expressed his view that Bitcoin will see bearish or sideways action over the next 6-12 months. To support this, Ju shared a historical chart showing Bitcoin's profit and loss index cyclical signals from 2014 to 2024.
Whale Selling Activity
Ju noted that major Bitcoin holders, known as whales, have started selling their assets at lower prices. His analysis, using the Principal Component Analysis method, looked at metrics such as Market Value to Realized Value Ratio.
Major Traders' Strategies
The market is witnessing activities from large traders executing high-margin trades. Ki highlighted a recent instance where a whale closed a short Bitcoin position, making over $4 million in three days, showing the interest in highly volatile positions.
Market forecasts suggest potential Bitcoin price declines, linked to whale activities and reduced liquidity. Traders should be cautious and consider current trends when choosing strategies.
