CryptoQuant: Bitcoin Bull Cycle Over, Market Ready for Bearish Trend?

Jakarta, Pintu News—Several prominent analysts are making unfavourable predictions about the Bitcoin BTC->Current BTC PriceRp 0Market Cap-Trading Volume-Circulating Supply- market. With various indicators pointing to a potential price drop, Bitcoin’s future seems full of uncertainty.

Check out the full analysis below!

Analysis from CryptoQuant CEO

Ki Young Ju, CEO of on-chain data aggregator CryptoQuant, recently shared his analysis of the current state of the Bitcoin market. According to Ju, Bitcoin’s bullish cycle is over.

The Profit and Loss (PnL) indicator featured in his analysis suggests that hopes for a Bitcoin price increase in the near future may not be realized. Ju added that a bearish or sideways trend will likely dominate the Bitcoin market for six months to a year.

This is due to a new liquidity drain and a sell-off by newly emerged whales, who dumped their Bitcoin at lower prices.

Read also: Analysis: Bitcoin Depot Shows Signs of Recovery, Bright Prospects in 2025?

Mike McGlone’s Bitcoin Prediction: Could Bearish to $10,000?

Mike McGlone, commodity strategist at Bloomberg Intelligence, is also bearish on Bitcoin. McGlone compares the current situation to the dot-com bubble in the 2000s, where after a significant run-up, the market then crashed by around 80%.

According to him, Bitcoin may suffer a similar fate and could fall back to $10,000. In addition, McGlone points out that while gold ETFs are experiencing huge inflows, Bitcoin exchange-traded funds are experiencing massive withdrawals. This suggests that gold might take over market leadership from Bitcoin by 2025.

Also read: Pi Network Updates 2FA Security: Will Pi Coin Price Soar?

Bitcoin’s Relationship with the US Stock Market

The US stock market is currently in a downturn, and Bitcoin seems to be moving in tandem with the S&P 500 index. This link to the broader stock market adds complexity to Bitcoin price predictions.

This dependency suggests that external factors can significantly affect the price of Bitcoin. Market watchers should pay attention to various global economic indicators and monetary policies that can affect the stock market and, indirectly, the Bitcoin market.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• U.Today. Gloomy Bitcoin Market Prediction Issued by CryptoQuant CEO, Bull Cycle Over. Accessed on March 20, 2025
• Featured Image: Generated by Ai