Summary
- Ki Young Ju, CEO of CryptoQuant, stated that it's too early to conclude that Bitcoin has entered a bear market.
- He revealed that although Bitcoin demand has slowed, the decrease is not significant compared to previous bear markets.
- This indicates that there is not enough evidence to determine that Bitcoin is in a bear market yet.
An analysis suggests that it's still too early to consider Bitcoin (BTC) as having entered a bear market.
On the 14th, Ki Young Ju, CEO of CryptoQuant, said through X (formerly Twitter), "Bitcoin demand seems to have stagnated, but it's still too early to conclude that it's a bear market."
According to the 'Bitcoin: Nominal Demand (30-day sum)' data he attached, while Bitcoin's demand has indeed slowed down recently, the decrease is not as significant compared to previous bear markets.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
