CryptoQuant CEO believes bull cycle ends
CryptoQuant CEO warns Bitcoin bull market is over, predicts months of stagnation.
CryptoQuant CEO Ki Young Ju has declared that the Bitcoin bull market is over, predicting 6–12 months of bearish or sideways price action amid declining market liquidity.
Ju noted on X that the on‑chain realized cap has stalled, signaling a lack of fresh capital inflows. “Without new liquidity to offset heavy selling, this is a bearish signal,” reports CoinDesk.
A recent CryptoQuant report highlights key valuation metrics, such as a falling MVRV Z‑score, that historically precede deeper corrections. Analysts now believe BTC could potentially return to the $63K mark if these conditions persist, a significant drop from its recent highs near $100K.
Valuation metrics and market dynamics
The MVRV Ratio Z‑score, which compares Bitcoin’s market value to its realized value, has dropped below its 365‑day moving average. This indicator has often signaled the onset of bear markets in the past. Additionally, the $75K–$78K support level has become critical, as weakening BTC demand—evidenced by slowing whale accumulation and net selling by U.S.-based spot ETFs—adds further downward pressure.
Polymarket bettors estimate a 51% chance that Bitcoin will end the week between $81K and $87K, and a 31% chance it could drop to $75K by month’s end. Recent data from CoinDesk Indices shows that Bitcoin is down 15% over the past month, erasing any post-election gains, while global economic uncertainty and geopolitical tensions continue to cloud market sentiment.
Broader market concerns
This sentiment is echoed by industry voices including Joel Kruger of LMAX Group and David Duong of Coinbase Institutional, who warn that ongoing weakness in U.S. equities—exacerbated by economic uncertainties and potential stagflation—could further impact crypto markets. With traditional markets struggling and investor confidence waning, the next phase for Bitcoin may involve a prolonged period of consolidation and correction.
As traders brace for potential deep corrections, the market now faces a crucial test: whether renewed liquidity can eventually propel Bitcoin back into an upward trajectory or if further declines will redefine the current bearish landscape.
Recently we wrote, that Bitcoin price struggle to sustain positive momentum in March continues today, Tuesday, March 18, as price repeatedly tests the $84,400 level but fails to break higher.
