Bitcoin Bulls and Bears Clash: CEO Warns of Critical Turning Point

Bitcoin's on-chain indicators are currently hovering at the bull-bear boundary, according to CryptoQuant CEO Ki Young Ju. In a recent tweet, Ju warned that the next month or two will be a critical turning point for the BTC market.

Ju expects this to be the longest bull run in history, but he acknowledges that more data is needed to confirm whether the market is entering a bearish phase. He stated, "If demand doesn’t recover, indicators may fully signal a downtrend." However, even in the worst-case scenario, Ju sees a high probability of Bitcoin consolidating around $77K for a few months before moving back up.

Ju also cautioned against excessive leverage, advising against heavy leveraged directional bets, both long and short, at this time. The CEO of the crypto analytics firm predicted that the bull market could extend until April 2025, based on typical two-year cycles.

As of today, Bitcoin is trading at $84,400, down 2.4% from yesterday's close.