Oh dear, oh dear! It seems our dear friend Bitcoin has taken a tumble, plummeting a whopping 22% from its dizzying heights of over $109,000! Can you believe it? This all happened on the very day that the world was busy watching a certain Donald Trump take the stage. Talk about a party crasher! 🎉
Now, investors are wringing their hands and biting their nails, as the technical indicators are waving their little red flags, signaling a rather gloomy outlook. It’s like a rainy day in the middle of summer! ☔️
But wait, there’s more! The liquidity, that magical potion that keeps the market bubbling, is slowing down. It’s as if the cash has decided to take a long vacation, leaving everyone wondering if the bull cycle has decided to pack its bags and head home. 🐂✈️
Liquidity Slowdown, Whale Sell-Offs
Enter Ki Young Ju, the CryptoQuant CEO, who boldly declared that the Bitcoin bull cycle is as good as over. He’s predicting a rather dreary 6-12 months ahead, where prices might just shuffle sideways like a confused crab. 🦀
What’s causing this ruckus, you ask? Well, it seems that some “new whales” – those big, blubbery investors who recently gobbled up Bitcoin – are now selling off their treasures at lower prices. It’s like watching a game of musical chairs, but with a lot more panic! 🎶
#Bitcoin bull cycle is over, expecting 6–12 months of bearish or sideways price action.
— Ki Young Ju (@ki_young_ju) March 17, 2025
To back up his claims, our dear Ki Young Ju whipped out his fancy Principal Component Analysis (PCA) tools, analyzing all sorts of on-chain metrics. He’s like a wizard with a crystal ball, peering into the future of Bitcoin’s long-term trend. 🧙♂️
His findings? The one-year moving average is heading downwards, which historically means we might be in for a long, dreary bear market. If history is any guide, BTC could be stuck in a corrective phase for quite some time. Yikes! 😱
Bitcoin Demand Weakening
And if that wasn’t enough, there’s a hint that Bitcoin demand is also losing its sparkle. In 2024, we saw two peaks of demand, like a rollercoaster ride, but after the March peak, it all came crashing down. It’s like a balloon losing air – poof! 🎈
Historically, such patterns have led to price fluctuations followed by a slow, sad downtrend. While the market has grown and changed, the overall outlook seems to be pointing towards a decline in demand. Oh, what a tangled web we weave! 🕸️
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2025-03-18 10:16