CryptoQuant CEO Says Bitcoin Bull Cycle is Over: What’s Next?

While Bitcoin currently exhibits minimal price movement, the CEO of CryptoQuant has reasons to believe the bull market is over.

Bitcoin price saw a slight decline of 0.3% in the past 24 hours. After reaching above $84,500 on Monday, Bitcoin fell to the $83,000 range, reflecting ongoing uncertainty. Meanwhile, Bitcoin has been up 4% over the past seven days, but there has been a 14.9% decline over the past month.

CryptoQuant CEO Signals Bearish Outlook

Amid this fluctuation, CryptoQuant CEO Ki Young Ju indicated that on-chain indicators point to the end of Bitcoin’s bull cycle. 

According to him, Bitcoin could experience a bearish or sideways trend for the next six to twelve months. Young Ju stressed that every on-chain data signals a bear market. Moreover, fresh liquidity is drying up, and new whales are selling Bitcoin at lower prices.

Every on-chain metric signals a bear market. With fresh liquidity drying up, new whales are selling Bitcoin at lower prices.@cryptoquant_com users who subscribed to my alerts received this signal a few days ago. I assume they’ve already adjusted their positions, so I’m posting… pic.twitter.com/0EIrpTCPVi

— Ki Young Ju (@ki_young_ju) March 17, 2025

Young Ju’s alert was based on an analysis of multiple on-chain indicators. The alert applied Principal Component Analysis (PCA) to metrics such as MVRV, SOPR, and NUPL, utilizing a 365-day moving average to determine inflection points where trend shifts occur.

Peter Schiff Predicts Further Bitcoin Decline

Elsewhere, economist and Bitcoin critic Peter Schiff expressed concerns about the financial market’s impact on Bitcoin. He noted that with the NASDAQ down 12%, Bitcoin could face a sharper decline. He suggested that if this trend continues, a 12% drop in the NASDAQ might correspond to a 24% decline in Bitcoin, potentially pushing its price toward $65,000.

Schiff further referenced historical market crashes, including the Dot-com bubble burst, the 2008 Global Financial Crisis, and the COVID crash of 2020, during which the NASDAQ declined by 80%, 55%, and 30%, respectively.

He argued that Bitcoin could be at risk of a much steeper downturn if a similar market collapse occurs. His worst-case scenario suggests Bitcoin could fall to $20,000 or lower.

Bitcoin Miners Book Profits

Additionally, Bitcoin miners have been actively booking profits, with over $27 million cashed out, according to analyst Ali Martinez. Data from CryptoQuant showed a significant increase in early miners realizing profits in USD this month. 

The trend indicates heightened selling pressure from miners, potentially adding to Bitcoin’s market instability.