February 27th news, CryptoQuant CEO KiYoungJu said in a social media post that the Bitcoin on-chain indicator shows that it is currently at the critical point of a bull and bear market. I expect this to 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 it is entering a bear market. If demand does not recover, the indicator may fully show a downward trend. According to a typical cycle, the bull market should continue until April 2025 - I mentioned this in May 2024. The next month or two will be a key turning point for the Bitcoin market.
If every indicator confirms a downtrend, I'll admit I'm wrong and post about it. But as I said before, I think the probability of Bitcoin falling below $77,000 is low. Even in the worst case scenario, I think Bitcoin will consolidate around $77,000 for a few months before recovering. I don't think it's a good option to go heavy on leveraged directional bets right now - either long or short.
CryptoQuant CEO: Bitcoin chain indicators show that it is currently at the dividing line between bulls and bears
2025-02-27 13:07:36
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