Bitcoin investors PnL may fall for 18 months, Ki Young Ju predicts

Bitcoin investors PnL may fall for 18 months, Ki Young Ju predicts
Bitcoin bear market may last to 2027

Ki Young Ju, founder & CEO at CryptoQuant, believes that Bitcoin investors typically experience declining profit-and-loss for about 18 months once profit-taking cascades begin.

He notes that since the market trend changed in October 2025, the current bear market for Bitcoin could extend into early 2027. According to him, a reversal is likely only when unrealized profits rise and realized profits drop, a scenario he says has not materialized yet.

Ki Young Ju has previously noted that Bitcoin short-term holders are no longer under pressure to sell at a loss, according to an earlier analysis (link). He has also pointed to bullish trends for crypto ETFs in traditional finance, while observing bearish sentiment for stocks on crypto exchanges (link). His recent comments continue his pattern of tracking sentiment and profitability shifts among different investor groups.

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