CryptoQuant CEO Declares Bitcoin Bull Market Over
- Bitcoin’s price is around $82,000, signaling bear market conditions according to CryptoQuant CEO Ki Young Ju.
- Ju’s analysis focuses on the relationship between Bitcoin’s Realized Cap and Market Cap.
- The Realized Cap is rising, while the Market Cap is declining, indicating bearish sentiments.
- A purchase of 22,048 BTC for $1.92 billion did not trigger a price rally due to high selling pressure.
- Ju predicts it could take up to six months for Bitcoin to recover from the bear market.
Ki Young Ju asserts that despite large acquisitions and positive fundamentals, Bitcoin remains in a bear market as its Market Cap declines while Realized Cap increases.
Source (2.6)https://coingape.com/cryptoquant-ceo-explains-why-bitcoin-bull-market-is-over-now/?rand=24432
