Bitcoin Falls Into $73,000 Range as CryptoQuant CEO Says Bear Market May Last Until Early 2027
Summary
- Ki Young Ju, chief executive officer of CryptoQuant, said the Bitcoin bear market could continue until early 2027.
- He said investors' profit and loss (PnL) typically declines for about 18 months when profit-taking triggers a chain reaction.
- Ju said a trend reversal would require rising unrealized profits and falling realized profits, but the market has not reached that stage yet.
Forecast Trend Report by Period
Ki Young Ju, chief executive officer of CryptoQuant, said Bitcoin's bear market could persist until early 2027.
In a post on X on May 29, Ju wrote that investors' profit and loss, or PnL, typically declines for about 18 months when profit-taking sets off a chain reaction. Using the trend reversal in October 2025 as a reference point, the bear market could continue until early 2027, he wrote.
For the trend to reverse, unrealized profits need to rise and realized profits need to fall, he said, adding that the market has yet to reach that stage.
Bitcoin's slide accelerated this week, sending it into the $73,000 range on May 28. The token traded at $73,547.79 as of 8:15 p.m. in Korea on May 29, up 0.31% from a day earlier, according to CoinMarketCap. That was still 4.74% lower than a week earlier.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
