Ju Flips on Bear Market Call as Bitcoin Surges Past $77,000

CryptoQuant founder Ki Young Ju has been calling the bottom of the Bitcoin bear market, but it's a reversal from his previous stance just six weeks ago.

On August 21, Ju said that Bitcoin's current rally signals the end of the bear phase and that the bottom is already in. He attributed the rally to whale wallets opening large long positions at the bottom on exchanges last week.

This is a sharp reversal from his previous views, where he had warned that any rebound would be temporary and that the bear market could run into 2027. However, Ju has said that the rally itself is new information and that analysts revise their views as data changes.

Bitcoin has traded near $77,710, up sharply from its recent range of $62,000 to $65,000. Ju's call has been met with some skepticism, given his previous mistakes, including a bearish-to-sideways price action forecast in March 2025 that was overtaken by a surge past $100,000 within two months.