CryptoQuant CEO Flips Bearish—What’s Next for Bitcoin?
The volatile Bitcoin market has taken a dramatic turn following a stark warning from CryptoQuant CEO Ki Young Ju. On March 17, the CryptoQuant CEO shifted his stance, stating that the cryptocurrency’s bull market might already be over. While he previously suggested a slow yet steady bull cycle, he now expects Bitcoin to experience bearish or sideways movement for the next six to twelve months. The CryptoQuant CEO’s revised prediction is based on on-chain metrics, which he claims clearly indicate a bear market. He pointed out that fresh liquidity has dried up, leading new Bitcoin whales to sell their holdings at lower prices, further depressing the market. This contrasts sharply with his earlier outlook on March 4, when he highlighted neutral readings on key indicators and maintained that the bull market was still intact. Diverging Opinions Among CryptoQuant CEO and Analysts Not all analysts share the CryptoQuant CEO’s bearish outlook. Swyftx lead analyst Pav Hundal remains optimistic, arguing that the decline in Bitcoin’s price is not cause for alarm. Hundal attributes market uncertainty to external factors, including US President Donald Trump’s tariffs, but maintains confidence in a strong global economy. He believes that once market conditions are favorable, capital will flow back into riskier assets like Bitcoin. Also read: Supply of Stablecoins by Itself Won’t Boost Bitcoin Markets — CryptoQuant CEO KI Young JU According to CoinMarketCap, Bitcoin is currently priced at $83,030, marking a 14.79% decline over the past month. This stands in contrast to the bullish sentiment earlier in the year, when many analysts predicted new all-time highs for Bitcoin. Conflicting Predictions for Bitcoin’s Future Some analysts believe Bitcoin may be poised for another rally. Crypto analyst Seth pointed out that the global M2 money supply recently reached an all-time high, suggesting it could trigger renewed bullish momentum for Bitcoin. 🚨🚨🚨🚨🚨In Aug 2024 I signalled the next leg up after Global Money Supply trending up making new ATH.I'm saying Global Money supply just made another new ATH. We are about to see #Bitcoin rally again.This time is not different. Not financial advice.Always DYOR! https://t.co/uTM0KZaTju pic.twitter.com/a07babxVzZ— Seth (@seth_fin) March 17, 2025 CoinRoutes CEO Dave Weisberger also speculated that if Bitcoin maintains its historical correlation with the money supply, it could reach a new all-time high by late April. Also read: Bitcoin Bloodbath: Speculators Lose $100M in Just Six Weeks However, some analysts take a more conservative approach. Former Phunware CEO Alan Knitowski argued that based on historical data, Bitcoin’s current price is significantly lower than expected. He suggested that at this stage of the cycle, Bitcoin should be trading around $250,000. Despite the uncertainty, some investors remain hopeful for a strong rebound. Swan Bitcoin CEO Cory Klippsten maintains a bullish outlook, asserting that there is more than a 50% chance Bitcoin will reach a new all-time high by June. Uncertain Path Forward The debate over Bitcoin’s short-term trajectory continues to divide analysts. While some argue that the bull cycle has ended, others see the current market downturn as a temporary setback in a longer upward trend. Investors are closely watching developments in both the traditional financial sector and the cryptocurrency space for further clues. Also read: Bitcoin Price Prediction for 2025: Could Trump Returning Spark a Crypto Bull Market? As the year progresses, Bitcoin’s price remains unpredictable, with significant consequences for investors. Regardless of whether its value rebounds or declines further, the inherent volatility of the cryptocurrency market remains a constant factor. Steven's passion for cryptocurrency and blockchain technology began in 2014, inspiring him to immerse himself in the field. He notably secured a top 5 world ranking in robotics. While he initially pursued a computer science degree at the University of Texas at Arlington, he chose to pause his studies after two semesters to take a more hands-on approach in advancing cryptocurrency technology. During this period, he actively worked on multiple patents related to cryptocurrency and blockchain. Additionally, Steven has explored various areas of the financial sector, including banking and financial markets, developing prototypes such as fully autonomous trading bots and intuitive interfaces that streamline blockchain integration, among other innovations. View all posts