Bitcoin's Bull Run Unstoppable: CEO Predicts 2025 Upside Despite Corrections

Bitcoin's bullish trajectory remains intact despite potential price corrections, according to CryptoQuant CEO Ki Young Ju. Despite a month of stagnant price action, the overall sentiment remains bullish, with key support levels anticipated to hold. Ju stated, "We’re still in a bull cycle," indicating that historical price patterns reaffirm a steady upward trajectory.

CryptoQuant's CEO forecasts that Bitcoin will remain bullish in 2025, despite potential price dips, maintaining critical support levels. Ju believes that a price drop to $77,000 would not signal the end of the current bull cycle, citing historical trends that support prolonged upward movements even after substantial corrections.

Ju's insights highlight significant cost bases that may influence market dynamics. Notably, the cost basis for US spot Bitcoin ETF investors stands at $89,000, functioning as a crucial support level since November. This has been compounded by an influx of new Bitcoin whales whose net buy-in levels mirror this price point, enhancing its significance for traders. In contrast, traders on the global exchange Binance have established a breakeven point at a much lower $59,000. Strikingly, Bitcoin mining companies face imminent red territory should prices dip below $57,000. Ju noted that historically, falling below this threshold during past downturns often confirmed a shift to a bear market, emphasizing the critical nature of these price levels.

Amidst these predictions, analysts at CryptoQuant have indicated that the ongoing halving cycle may lead to further upside for Bitcoin prices. Since last April's halving, the price has only appreciated about 60%, suggesting much room for growth. Oinonen anticipates a sell-off in May, followed by sideways movement throughout the summer, with prices likely to increase as we approach the last quarter of the year. "The positive Q4 seasonality has been a recurring theme in past cycles, reinforcing expectations for elevated price levels toward the end of the year," he concluded.

The outlook for Bitcoin appears promising according to several indicators. The absence of bearish sentiment this year, along with established cost bases, paints a picture of resilience among Bitcoin investors. Ju's perspective, coupled with analytical insights from Oinonen, creates a consensus that any potential price corrections may merely be temporary setbacks in the broader upward trajectory.