Bitcoin Recovery Depends on Key Event

CryptoQuant CEO Highlights US Sentiment as Key to Crypto Market Movement

• The crypto market, including Bitcoin, is expected to remain slow until sentiment in the US improves.
• Current on-chain activity is minimal, with key indicators remaining neutral.
• The bull cycle is considered intact, supported by strong fundamentals and increased mining rigs.
• Ethereum is not currently in a distribution phase; liquidity from retail traders is weaker than in past cycles.
• The outcome of the current cycle ending would be undesirable for major stakeholders like old whales and mining companies.

According to CryptoQuant’s CEO, Ki Young Ju, the cryptocurrency market’s sluggishness is tied to US sentiment. Despite low on-chain activity and weak retail liquidity, strong fundamentals keep the bull cycle intact.