Bitcoin’s bull cycle has come to an end, and the market may see 6 to 12 months of bearish or sideways movement, according to CryptoQuant CEO Ki Young Ju.
Ju pointed to on-chain metrics that indicate a shifting trend. “Every on-chain metric signals a bear market,” he said, explaining that liquidity is drying up, and new whales are offloading Bitcoin at lower prices.
After briefly topping $100,000 in late 2024, Bitcoin is now in a classic post-rally consolidation phase, testing key support levels between $82,000 and $85,000. While institutional buying and speculation around a potential U.S. Strategic Bitcoin Reserve have provided some optimism, resistance between $85,000 and $90,000 could make further gains difficult.
Bitcoin last traded around $83,156, marking a nearly 15% decline in the past month.
If sentiment turns bearish, Bitcoin could dip toward $75,000–$80,000, though a bullish macro backdrop could send it climbing back to $90,000.
According to Ryan Lee, chief analyst at Bitget Research, macro conditions remain a major wildcard. Any unexpected shifts in Federal Reserve (FOMC) policy could shake up the market.
“The NASDAQ is down 12%,” Schiff noted on X. “If this correction turns out to be a bear market, and the correlation where a 12% decline in the NASDAQ equates to a 24% decline in Bitcoin holds, when the NASDAQ is down 20%, Bitcoin will be about $65K.”
However, if institutional sentiment weakens or the NASDAQ extends its decline, Bitcoin’s correction could deepen, putting $65,000–$75,000 on the radar.
Meanwhile, crypto cynic and market commentator Peter Schiff has issued his own warning, suggesting that Bitcoin could face even steeper losses if broader markets tumble.