Ki Young Ju, CEO of CryptoQuant, recently stated that current market conditions indicate the end of the bull cycle in Bitcoin.
Market Analysis of Bitcoin
Ki Young Ju mentioned that based on his data analysis, it is evident that the Bitcoin market is currently in a bearish trend.
Understanding Realized Cap and Market Capitalization
Ju emphasized the importance of the Realized Cap metric, which reflects the capital entering the market through on-chain activities. An increase in Realized Cap alongside stable or decreasing market cap indicates weak demand for Bitcoin.
Market Outlook and Expert Conclusion
According to Ju, the current data suggests high selling pressure with insufficient purchases to maintain price growth. He noted that even if selling pressure decreases, historically such situations last at least six months.
Thus, the expert concludes that the present state of the Bitcoin market reflects classic signs of a bearish trend, making expectations for a quick recovery unrealistic.
