The crypto market has been on edge after Ki Young Ju, CEO of CryptoQuant, declared that we have officially entered a bear market. Following this statement, Bitcoin (BTC) dipped below $82,000, raising concerns about a prolonged downturn. But is this truly the beginning of a long-term decline? Are we looking at 6-12 months of market struggles?
CryptoQuant’s Warning and Market Sentiment
Just a week ago, Ki Young Ju was still optimistic about a market uptrend. Now, his shift in sentiment has startled investors. Liquidity is tightening across the crypto space, and global tensions have weakened risk appetite. Economist Şant Manukyan also recently highlighted the possibility of an impending bear market in traditional equities, which could further pressure the crypto market.
Stockmoney Lizards, a well-known market analyst, shared a different perspective:
“Investors are impatient and failing to see the historic opportunity at hand. BTC is in a corrective phase with lower highs and lower lows. However, downward momentum is increasing, and we are seeing a bullish divergence on the daily chart. A test of the low $70K range wouldn’t be surprising, even if just briefly. Regardless, $80K remains a strong accumulation zone. If you’ve been in crypto for a while, you know corrections last months, but explosive moves happen in days.”
Key Indicators Pointing to Market Shift
Ali Charts, another respected analyst, believes multiple signals suggest Bitcoin is undergoing a macro trend shift:
- Exchange Flow Metrics: On-chain data shows a continued corrective phase, indicating a bearish market trend.
- MVRV Ratio: This metric, which tracks Bitcoin’s market value relative to realized value, suggests selling pressure is mounting.
- Market Cycle Indicator: Early signs of a bear market phase are emerging.
- Whale and Miner Activity: Large investors are offloading their holdings, with miners recently selling $27 million in BTC. Whales have offloaded over $260 million in sales, further reinforcing the bearish outlook.
- Capital Inflows: There has been a sharp drop in market inflows, falling from $135 billion in December to just $4 billion today.
Where Is the Next Major Support?
If Bitcoin is indeed entering a prolonged bear market, Ali Charts predicts the next critical support zone will be between $66,000 and $69,000. If selling pressure intensifies, BTC could retest this range before any meaningful recovery.
Dey There will continue to monitor market developments and provide timely insights. Whether this downturn is temporary or the beginning of a deeper bear cycle remains uncertain, but one thing is clear: investor sentiment is shifting, and caution is advised.
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