CryptoQuant CEO: Bitcoin on-chain indicators show that it is currently at the bull-bear dividing line
On February 27, CryptoQuant CEO Ki Young Ju posted on social media that Bitcoin's on-chain indicators currently show it is at the critical point between a bull and bear market. I predict this will be the longest bull market in history, but I could also be wrong. We need to wait at least another month for data to confirm whether we are entering a bear market. If demand does not recover, the indicators may fully display a downward trend. According to typical cycles, the bull market should last until April 2025 - I mentioned this back in May 2024. The next one or two months will be key turning points for the Bitcoin market.
If every indicator confirms a downward trend, I will admit my mistake and post relevant content. But as I said before, I think there is a low probability of Bitcoin falling below $77k USD. Even in the worst case scenario, I believe Bitcoin would consolidate around $77k USD for several months before rebounding again. In my opinion, now is not a good time to make heavy leveraged directional bets - whether long or short.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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