Bitcoin’s Bull Market Cycle May Have Reached Its Endpoint, Suggests CryptoQuant CEO
As the cryptocurrency market experiences fluctuations, expert insights into Bitcoin’s future trajectory are crucial. Recent comments from CryptoQuant CEO Ki Young Ju have sparked discussions about the end of Bitcoin’s bull market cycle.
Bitcoin Cycle May Be Over, Indicates CryptoQuant CEO
Bitcoin ($BTC) has shown a decline in prices over the past day, currently standing at $82,651 with a minor 0.47% decrease over the past 24 hours. The trading volume decreased by 51.54% to reach $21.61B, while the market cap settled at $1.64T. According to CryptoQuant CEO, Ki Young Ju, the current Bitcoin on-chain data suggests that Bitcoin’s bull market cycle has reached its endpoint, citing the Realized Cap as an indicator.
Satoshi Nakamoto’s Birthday Triggers Crypto Market’s Excitement
Amid the celebration of the birthday of Bitcoin’s pseudonymous creator Satoshi Nakamoto, the crypto market has witnessed a significant upsurge. This weekend, Satoshi Nakamoto’s 50th symbolic “Happy Birthday,” based on the P2P Foundation-based profile, has fueled enthusiasm across the wider crypto sector. Notably, the Bitcoin ecosystem is experiencing a significant thrill on this remarkable occasion.
Bitcoin Price Analysis: Is BTC About to Plunge Below $80K?
Bitcoin has been consolidating above the crucial $80K support level, facing substantial uncertainty. Technical analysis suggests that this range is expected to hold, potentially leading to a bullish reversal. The Daily Chart shows Bitcoin moving sideways above the $80K key support zone, which includes the 0.5-0.618 Fibonacci retracement levels and the ascending channel’s lower boundary. If sellers gain control and push the price below, substantial declines could occur. The next major trend will depend on Bitcoin’s price action around the $80K zone.
Bitcoin Losses Mount, Traders Hit Hard!
Bitcoin short-term holders have faced steep losses since early February, now surpassing even the chaos seen during the FTX crash and the 2024 market correction. The pain is hitting short-term investors the hardest, particularly those holding BTC for 1 to 3 months. Market uncertainty continues to linger, indicating a deeper shift in sentiment. Many are wondering if the worst is yet to come or if a breakout is imminent. Source: CryptoQuant
Bitcoin Price On The Verge Of 15% Breakout
Bitcoin’s price is reaching a pivotal moment as it coils within a tightening triangle pattern that could soon resolve in a dramatic breakout. The ongoing consolidation around $80,000 to $85,000 is part of a classic technical setup that can cause strong directional moves in the market. Notably, this triangle pattern was shared in an analysis on social media platform X by crypto analyst Ali Martinez, where he advised traders to keep a close eye on Bitcoin’s next breakout move. The current pattern hints at a possible 15% swing in either direction, and with Bitcoin now hovering around $83,000, the stakes are high.
