Bitcoin Crash Incoming ? CryptoQuant CEO Sounds The Alarm

Is the bitcoin market entering a phase of prolonged decline? This is the question that is stirring the crypto community after the shocking statement from Ki Young Ju, CEO of CryptoQuant. Indeed, known for his accurate on-chain analyses, he stated on the social network X (formerly Twitter) that the bitcoin bull cycle is over. This radical shift in discourse is all the more surprising since he claimed earlier in March that the bull run was still in place, albeit slowed down.

The cutting verdict of Ki Young Ju : a bearish market in sight ?

In a post on the X platform (formerly Twitter) on March 17, 2025, Ki Young Ju made an explosive revelation about bitcoin. He bluntly announced : “the bitcoin bull cycle is over. I expect six to twelve months of a bearish or sideways market.”

This stance is all the more surprising as he asserted earlier in March that the bullish momentum was indeed slowed down, but still intact.

Thus, this turnaround has immediately affected investor confidence and revived fears of a prolonged correction.

The CEO of CryptoQuant bases his analysis on several negative on-chain indicators :

• A drying up of liquidity : new capital flows into the market are running dry, making it more difficult to see any bullish recovery ;
• Increased selling by whales : large BTC holders are said to have started to sell their positions at lower prices, a signal often associated with a market in a turning phase ;
• Critical technical indicators : several on-chain metrics, such as BTC movements between wallets and capital flows, reinforce the thesis of market exhaustion ;
• A degrading market sentiment : trader optimism is giving way to uncertainty, as long positions gradually decrease in response to falling prices.

Ki Young Ju insists that the current momentum resembles a bearish market where new entrants incur losses, which could further dampen interest in bitcoin in the coming months.

Analysts oppose a more optimistic view

However, some experts refuse to bury the bull cycle too quickly and find Ki Young Ju’s prediction excessive.

Seth, a closely followed crypto analyst, points out a major element that could reignite bitcoin: the global M2 money supply, which has just reached a new historical peak.

For him, this monetary expansion could be fuel for a new influx of liquidity into risky assets. “Whenever the global money supply explodes, bitcoin benefits. We are about to witness a new rally,” he declared on March 17 in a post on the X platform.

Other analysts, such as Dave Weisberger, CEO of CoinRoutes, remind us that bitcoin has historically followed a correlation with the growth of the money supply.

If this trend continues, BTC could reach a new ATH as early as April. A forecast shared by Cory Klippsten, CEO of Swan Bitcoin, who estimates there is over a 50 % chance that bitcoin reaches a new peak before the end of June.

In light of these elements, it appears that the bearish thesis is not unanimous, and that external economic factors could still drive bitcoin to new records.

History has shown that brutal corrections in bitcoin do not always mark the end of a cycle. While Ki Young Ju’s on-chain analysis relies on clear signals, other factors such as global monetary policy and institutional investor behaviors could still favor a rebound. In this context, the battle between proponents of a continued bullish trend and those advocating for a prolonged bearish market is far from settled.