Bitcoin Market Approaches Critical Turning Point

According to PANews, Ki Young Ju, co-founder and CEO of CryptoQuant, recently tweeted about Bitcoin's on-chain indicators, which are currently at the boundary between a bull and bear market. He anticipates this could be the longest bull market in history, though he acknowledges the possibility of being incorrect. At least another month of data is needed to confirm whether a bear market is emerging. If demand does not recover, the indicators might fully signal a downward trend. Ju noted that, based on a typical two-year cycle, the bull market should last until April 2025. The next one to two months will be a crucial turning point for the BTC market. If all indicators confirm a downward trend, he will admit his mistake and release relevant content. However, he believes the likelihood of Bitcoin falling below $77,000 is low. Even in the worst-case scenario, he sees a high possibility of consolidation around $77,000 for several months before a rebound. Ju advises against making significant leveraged directional bets, whether long or short, at this time.