Bitcoin Bear Market Declared 'Effectively Over' by CryptoQuant CEO Ki Young Ju
CryptoQuant CEO Ki Young Ju has declared that Bitcoin's bear market is 'effectively over,' citing the resilience of the current price trend. According to Ju, this rebound pattern is historically associated with the formation of a market bottom, suggesting that while a temporary pullback remains possible, the broader bearish phase has likely concluded.
Ju's assessment is grounded in CryptoQuant's on-chain metrics, which track the behavior of long-term holders, exchange flows, and miner activity. He pointed out that similar rebounds in past bear markets often signaled the start of a new accumulation phase, with institutional investors stepping in to buy at perceived lows.
This perspective aligns with recent data showing a significant outflow of Bitcoin from exchanges, a trend typically interpreted as a bullish signal. When investors move their holdings to cold storage, it reduces the available supply for trading, which can support price appreciation over time.