The price of Bitcoin (BTC) has dropped more than 22% since reaching its all-time high USD 109,000 on January 20, the same day Donald Trump took office as President of the United States. Since then, the persistent decline has raised questions about whether the current bull cycle\u2014 a period when assets experience continuous appreciation\u2014 has come to an end.<\/p>\n\n\n\n
Ki Young Ju, CEO of CryptoQuant, a company specializing in crypto market analytics, recently stated that Bitcoin’s bull cycle is over. According to him, the market is likely to experience a prolonged period of stable or declining prices<\/a> over the next 6 to 12 months, as investors adjust their expectations and strategies following the recent strong gains.<\/p>\n\n\n\n The analysis primarily considers the behavior of “whales”\u2014 a term used to describe large investors who hold significant amounts of cryptocurrency. These investors, who had been accumulating Bitcoin recently, are now engaging in frequent selling, often accepting prices lower than their purchase cost. This selling pressure<\/a> makes price recovery more difficult, reinforcing the likelihood of a market downturn.<\/p>\n\n\n\n To support his predictions, Ki Young Ju uses technical indicators such as the 365-day moving average, which calculates the average price over the past year. When analyzing this indicator, he identified a downward trend, a pattern historically associated with prolonged bear markets\u2014 periods when asset prices decline for an extended time.<\/p>\n\n\n\nTechnical Data Suggests the End of Bitcoin’s Bull Cycle<\/h2>\n\n\n\n