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Reading: Bitcoin Faces Decline as Key Indicators Signal Market Pressure
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COINTURK NEWS > Bitcoin (BTC) > Bitcoin Faces Decline as Key Indicators Signal Market Pressure
Bitcoin (BTC)

Bitcoin Faces Decline as Key Indicators Signal Market Pressure

In Brief

  • CryptoQuant's CEO warns that Bitcoin's bullish phase has ended.

  • On-chain metrics indicate potential downward trends for Bitcoin prices.

  • Whales are selling BTC, suggesting reduced liquidity in the market.

Fatih Uçar
Fatih Uçar 2 months ago
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According to Ki Young Ju, CEO of CryptoQuant, the bullish cycle for Bitcoin (BTC) $101,058 has concluded. On-chain data suggest that Bitcoin will either decline or remain flat over the next six to twelve months. Ju notes a reduction in new liquidity and indicates that new whale-level investors are selling their BTC holdings at lower prices.

Contents
On-Chain Data Supports Bitcoin’s Downward TrendBitcoin Whales Begin Selling Assets

On-Chain Data Supports Bitcoin’s Downward Trend

On-chain data plays a crucial role in understanding Bitcoin’s price movements. Key metrics such as MVRV, SOPR, and NUPL are essential for determining price cycles. According to CryptoQuant’s data, the 365-day moving average, calculated using the average of these metrics, is used to identify major trend reversal points for Bitcoin.

Bear and Bull Cycles in Bitcoin

Recent updates indicate that this moving average has entered a new downward trend. Historically, this level has been effective in determining the entry into bullish or bearish phases in the Bitcoin market. A similar signal has emerged as seen in the bear markets of 2014, 2018, and 2022. This suggests increased selling pressure in the Bitcoin market, potentially leading to a decrease or flat movement in the price of the leading cryptocurrency.

Bitcoin Whales Begin Selling Assets

The actions of Bitcoin whales further reinforce expectations of a market decline. According to Ju, new whales are selling their BTC at lower prices than they initially purchased. This indicates a reduction in liquidity in the market.

Sales by Bitcoin Whales

Historical data shows that when the bullish cycle ends, whales tend to sell large amounts. Similar situations were observed during the cycles of 2018 and 2021, leading to significant price drops. Current on-chain signals also suggest that whales are taking profits. As a result, the market is likely to remain under selling pressure in the coming months.

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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Fatih Uçar 18 March, 2025 - 8:38 am 18 March, 2025 - 8:38 am
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