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The CEO of cryptocurrency, Ki Young Ju, announced today that the Bitcoin bull cycle “is finished” and warned investors to prepare for “6 to 12 months of lower or lateral price action”. This development comes after the veteran of chain analysis had previously urged caution, but maintained a perspective measured on the market two weeks ago.
Does Bitcoin Bull continue?
In an article shared today via x, ki declared: “The Bitcoin Bull cycle is finished, awaiting 6 to 12 months of lower or lateral price action.”
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In addition to the commentary, the CEO highlighted the cyclical signals of the Bitcoin PNL index – an index that brings together several metrics on the chain, such as MVRV, SOPR and NUPL, to identify the markets of the market, the lows and the cyclic turns in the Bitcoin price. According to Ki, this indicator has historically offered reliable purchase and sale signals.
He also explained how an automated alert, previously sent to his subscribers, combined these measures in a mobile average at 365 days. Once the trend of this mobile average at 1 year is changed, it often signals an inflection point on the significant market. As proof, Ki also shared a graph: “This alert applies a PCA to chain indicators like MVRVSOPR and NUPL to calculate a mobile average at 365 days. This signal identifies the inflection points where the tendency of the mobile average at 1 year changes. »»
Ki underlined the liquidity of drying and fresh sale pressure by “new whales” which, he said, unload Bitcoin at lower prices. He notably revealed that cryptocurrency users who had subscribed to his alerts had received this signal before today’s public announcement. “With a new liquidity that was drying, the new whales sell Bitcoins prices at lower prices.
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The latter declaration contrasts the remarks only four days ago, on March 14, when Ki took a more cautious tone, declaring: “The Bitcoin request seems stuck, but it is too early to call it a lower market.”
At that time, he shared a table of the apparent request indicator (sum 30 days), which had become slightly negative – an early signal that the request could shrink. Although Ki pointed out that demand could still bounce back (as he did in the past side phases), he recognized the possibility that Bitcoin vacillates on the edge of a lower market.
The feeling of feeling is particularly notable given the position of Ki two weeks ago. In this previous post, he considered that the “bull cycle is always intact”, creating solid fundamentals and Growing mining: “There is no important activity on the chain and the key indicators are neutral, which suggests that the bull cycle is always intact.
However, he also warned that the market could turn if the feeling did not improve, especially in the United States. With today’s announcement, the warning was obviously crystallized. Thinking about the potential downward scenario, Ki said at the time: “If the cycle ends here, it is a result that no one wanted – no old whales, mining companies, tradfi, Or even trump. (Fyi, the market does not care about retail.) ”
At the time of the press, BTC exchanged $ 83,059.
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