Bitcoin‘s (CRYPTO: BTC) bull cycle appears to have come to an end, according to Ki Young Ju, Founder and CEO of blockchain analytics firm CryptoQuant.
The comments follow fresh signals from CryptoQuant’s proprietary PnL Index chart, which now reflects a sell signal that has historically aligned with prior market tops.
What Happened: “We are likely past the bull cycle peak,” Ju said, suggesting Bitcoin may face a prolonged period of sideways or bearish movement over the next six to twelve months.
The chart, spanning over a decade, plots Bitcoin’s price alongside cyclical buy and sell signals derived from on-chain profitability metrics.
The latest signal indicates a similar pattern to those seen in 2013, 2017, and 2021, each of which preceded either steep corrections or …
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