According to CryptoQuant CEO Ki Young Ju, the Bitcoin bull market has reached its end due to multiple market signals indicating continued price declines. Ju’s analysis suggests that Bitcoin trades within a sustained bear market with a price range of $82,000. The expert’s conclusions are drawn from the interplay between Bitcoin’s Realized Cap and its Market Cap and the rising selling pressure on the asset.
Ki Young Ju’s analysis hinges on the difference between two critical metrics: Realized Cap and Market Cap. Realised Cap is calculated based on the value of Bitcoin at the price at which it was transferred into wallets, while Market Cap reflects the current circulating supply multiplied by the price.
Ju argues that the rising Realized Cap and a stagnant Market Cap indicate bearish sentiment, as fresh capital enters the market but fails to drive significant price growth. The price movement signals a bearish market outlook for Bitcoin in the short term. Considerable purchases, including 22,048 bitcoins acquired for $1.92 billion, have failed to induce the typical price increases markets would have experienced previously.
According to Ju, large acquisitions under high selling pressure have failed to elevate Bitcoin prices in recent market movements. The minimal impact of capital inflows on Bitcoin price serves as additional evidence to validate Ju’s bear market analysis.
The price of Bitcoin stabilizes at $82,950 while remaining in a bearish pennant pattern that usually indicates additional market downturns. According to their assessment, Crypto Sat analysts indicate that Bitcoin may fall to $80,000 within this short period while Ju shares a matching pessimistic Bitcoin forecast.
According to his assessment, Bitcoin needs approximately half a year to recover from bear market conditions before a real market turnaround becomes possible. Ju's historical analysis shows significant market recoveries need prolonged durations between them.
He points out that selling activities may become less intense but rejects any expectation of instant market recovery. According to current on-chain data, the extended bearish phase remains strong because major institutional purchases show no signs of pushing Bitcoin prices higher. According to Ju, Bitcoin has passed its bull market phase thus it may enter a prolonged stagnation period.
Multiple experts maintain Bitcoin retains value as a wealth storage opportunity despite its volatility. Secretary Scott Bessent of the U.S. Treasury Department compared Bitcoin to gold to demonstrate its use as inflation protection for extended periods. However, for the short term, Bitcoin remains uncertain, facing these bearish movements.