Ki Young Ju "Bitcoin will take another 3–6 months to recover"

The Bitcoin (BTC) market has shown weaker-than-expected performance, prompting analysis that a strong recovery may be difficult over the next 3–6 months. The outlook is that the bull market will resume next year, when liquidity is fully released.

On the 21st (Korean time), Ki Young Ju, CEO of CryptoQuant, said via X (formerly Twitter) that "macro liquidity is more important than the on-chain cycle," and added that "as long as dollar liquidity contraction continues and risk asset selling persists, Bitcoin's potential for a rebound is limited." He explained that on-chain data also shows that market liquidity is currently weak.

Ki said, "The on-chain-based bull market is already over," and assessed that "if a strong rebound occurs, it could rise to around $100,000, but if it fails to surpass that price range, it may form a lower low."

He also cited macro analyst Luke Gromen's view, evaluating that the widening U.S. fiscal deficit and a decline in overseas demand for U.S. Treasuries are key factors delaying liquidity recovery. He said, "The Treasury market could remain unstable until liquidity is supplied again."

He added, "If liquidity recovers next year, scarce assets like gold and Bitcoin will rise."

Earlier, Ki had said that the current Bitcoin price range is a long-term buy zone.