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The crypto market is entering a bearish trend, CryptoQuant CEO Ki Young Ju says. Based on several on-chain signals, he is convinced that the bull run of Bitcoin has ended and a 6 to 12-month bear market will ensue.
Chief Indicators Marking a Bear Market
Ju’s forecast is based on several on-chain signals that have previously reflected market turns. These are:
Bitcoin Profit and Loss (PnL) Index: This indicator sums major on-chain points such as Market Value to Realized Value (MVRV), Spent Output Profit Ratio (SOPR), and Net Unrealized Profit/Loss (NUPL). Present readings point towards a market decline.
Liquidity Trends: A reduction in new liquidity into the market is a cause for concern, as it constrains Bitcoin’s capacity for upward momentum.
Whale Activity: Fresh Bitcoin whales are said to be selling at reduced price points, which might catalyze a bearish trend.
What This Means for Investors
For crypt-investors, Ju’s revelations advise warning in the short run. The market might experience persistent downward pressure unless fresh liquidity comes in. Dealers and long-term investors might have to prepare for possible corrections prior to any rebound.
Though the crypto market has witnessed numerous cycles, Ki Young Ju’s prognosis indicates a trying time is forthcoming. Whether or not Bitcoin takes his forecasted bearish course or will surprise stakeholders with strength is for the taking. Until then, market players should remain abreast and align their tactics accordingly.
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