CryptoQuant CEO signals end of Bitcoin bear market

CryptoQuant CEO Ki Young Ju has stated that the Bitcoin bear market concluded this summer, marking the beginning of a new bullish cycle. According to Ju, the market is currently in its early stages, with a projected price increase of three to five times from recent lows.

Several on-chain indicators support this outlook. Ju noted a significant influx of fresh capital into accumulation addresses and a decrease in selling pressure from long-term holders, often referred to as ‘OG whales.’ Additionally, large futures traders have reportedly rebuilt long positions near market bottoms.

The analysis suggests that the Bitcoin market is maturing, leading to less extreme price volatility compared to previous cycles. Specifically, the MVRV (Market Value to Realized Value) ratio has remained significantly lower than the peaks of 4 to 5 seen in past years, indicating that market euphoria and capitulation are becoming more moderate. This shift reflects a transition in the buyer profile from retail and early whales toward institutional players, ETFs, and custodians.