The CEO of the analytics company CryptoQuant, Ki Young Ju, shared his insights on the current state of the Bitcoin market, noting that a prolonged accumulation period for the asset has begun. In his opinion, the lack of active derivative trading creates favorable conditions for long-term holding of Bitcoin in a spot portfolio.
This is reported by Business • Media
Bull Cycle and Bitcoin Price Prospects
According to Ju, an analysis of on-chain metrics indicates the end of the bullish trend after Bitcoin reached the $100,000 mark. Traditionally, in such market conditions, one would expect a price drop to the realized value, which currently stands at around $56,000. However, the expert believes that such a deep correction is unlikely due to the activity of large investors, particularly MicroStrategy, which influences price support.
Liquidity and Market Dynamics Forecast
Ju predicts that a recovery in liquidity is expected by mid-2025, as the macroeconomic situation will push governments to inject additional funds for political reasons. In his view, this could lead to improved market sentiment and affect Bitcoin’s future dynamics.
“Moreover, macroeconomic conditions suggest that governments will be forced to inject liquidity for political reasons by mid-next year, so sentiment could recover at any moment. In my opinion, selling or shorting right now is a bad idea,” said Ki Young Ju.
He also emphasized that he personally has refrained from using leverage but remains confident in the prospects of long-term investment in Bitcoin.
Earlier, CryptoQuant noted that if the U.S. Federal Reserve does not lower the interest rate, Bitcoin could trade in the range of $60,000-$80,000.