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Cryptoquant Ki Young JU announced today that the Bitco Bull course has ended and has warned investors against their willingness “from 6 to 12 months of declining or side work.” This development comes after the analytical veteran in the series warned by caution, but he kept a measure of the market two weeks ago two weeks ago.
Has bitcoin bulls ended?
In a joint post today via X, Ki I mentioned: “The Bitcoin Bull has ended, as you expect 6 to 12 months to make the declining or side price.”
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Besides the comment, the CEO of Bitcoin Pnl Index periodically highlighted-an index that collects multiple standards on the series, such as MVRV, SOPR and NUPL, to determine market peaks, ships, and periodic transformation points at Bitcoin price. According to Ki, this indicator historically provided reliable purchase and sale signals.
He also explained how an automatic alert was previously sent to its subscribers, combining these scales in an average moving for 365 days. Once the trend in this moving average changes for a year, it often indicates a turning point in the market. As evidence, Ki also shared a chart: “This alert applies PCA indicators to the series like MVRV, SOPR and NUPL to calculate the moving average for 365 days.
Ki pointed out that the liquidity was dried and the fresh sale pressure by the “new whales”, which he said, empty Bitcoin at lower prices. It is worth noting that he revealed that Cryptoquant users who participated in his alerts received this signal before the public announcement today. “With new liquidity drying, the new whales sell Bitcoin at lower prices.
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This last announcement of notes just for four days contradicts March 14, when it struck a more cautious tone, saying: “It seems that the demand for bitcoin stuck, but it is too early to call it a bear market.”
At that time, he shared a scheme for the apparent request index (30 days), which turned into somewhat negative-an early indication that the request may be launched. Although Ki indicated that the demand can still apostasy (as in the previous side stages), it was recognized that Bitcoin swings on the edge of the bear market.
The axis of feelings is particularly noticeable given the Ki position two weeks ago. In this previous post, he saw that “the bull cycle is still sound”, which enhances strong basics and increased mining capacity: “There is no great activity on the series, and the main neutral indicators, indicating that the bull cycle is still sound.
However, he also warned that the market could improve if feelings do not improve, especially in the United States. With today’s announcement, the warning crystallized clearly. Thinking about the scenario of the potential negative side, Ki said at the time: “If the course ends here, it is a result that no one wants – not ancient whales, mining companies, Trafi, or even Trump.
At the time of the press, BTC was traded at $ 83,059.
Distinctive image created with Dall.e, Chart from TradingView.com
The post CryptoQuant CEO Sounds The Alarm first appeared on Investorempires.com.
