Ki Young Ju "Bitcoin (BTC) on-chain indicators positioned at the boundary between bullish and bearish"
Summary
- He reported that Bitcoin's on-chain indicators are positioned at the boundary between bullish and bearish trends.
- He stated that directional betting strategies using leverage are not appropriate in the current situation.
- He said there is a low possibility of Bitcoin falling below $77,000, and it's likely to rise again after moving sideways.
Analysis suggests that Bitcoin (BTC) is positioned at the boundary between bullish and bearish trends based on on-chain indicators.
On the 27th, Ki Young Ju, CEO of CryptoQuant, stated through X (formerly Twitter), "Currently, Bitcoin's on-chain indicators are hovering at the boundary between bull and bear markets." He emphasized, "I don't think it's a good choice to strongly pursue directional betting strategies (long or short) using leverage at this time."
He projected, "Considering the typical 2-year cycle, this bull market could potentially continue until April," but added, "The next 1-2 months will be a crucial inflection point for the Bitcoin market." He explained that at least one more month of additional data is needed to definitively determine whether Bitcoin has entered a bear market.
CEO Ju stated, "I believe there is a low possibility that Bitcoin will fall below $77,000," adding, "Even in the worst-case scenario, Bitcoin is likely to move sideways around $77,000 for several months before rising again."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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