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CryptoQuant CEO Analyses the Current Bitcoin (BTC) Situation: Bearish or Bullish Trend on the Chart?
In recent weeks, Bitcoin surpassed the $82,000 mark, triggering strong excitement around a potential bull market. Some analysts argue that this rally is still in the early stages of a bullish cycle.
However, several analysts warned that the move could turn out to be a “bull trap”, claiming that the signs of a genuine bullish trend have not yet fully emerged.
One of those analysts was Ki Young Ju, founder of CryptoQuant.
Repeating his previous forecast, Ki Young Ju stated that it is still too early to call this a true bull market. In a post on X, he said that the current Bitcoin market has not yet fully entered a bullish phase and that the real bull market has not started.
In this analysis, Ju used data from CryptoQuant’s “Bull Market Index” and argued that, according to those metrics, the genuine bull market has not yet begun.
According to the well-known CEO, all signals will become much clearer once the real Bitcoin bull market begins. However, he added that Bitcoin and the broader market have not yet reached that stage.
“Once the real Bitcoin bull market begins, all signals will become very clear.”
“We have not reached that point yet.”
CZ’s Bitcoin Statements Return to the Spotlight
While the CEO of CryptoQuant argues that Bitcoin is still in a bearish market and has not yet entered a bullish phase, statements made by Changpeng Zhao, founder of Binance, have once again attracted attention.
In recent months, CZ’s comments regarding Bitcoin reserves held by different countries have generated significant interest. In this context, CZ claimed that Asian countries are quietly increasing their Bitcoin reserves.
Changpeng Zhao predicts that Asian nations are highly likely to conduct their strategic Bitcoin reserve activities discreetly rather than publicly announcing them.
In this regard, CZ believes that Asian countries will most likely continue accumulating Bitcoin reserves quietly, citing cultural differences as a key reason behind this approach.
CZ also argued that claims suggesting Bitcoin and cryptocurrencies will destroy traditional finance are false.
CZ’s remarks about national Bitcoin reserves are especially noteworthy as markets await a major announcement from U.S. President Donald Trump regarding the creation of a national Bitcoin reserve.
Indeed, Patrick Witt, head of the White House Crypto Advisory Committee, recently stated that Donald Trump is expected to make an important announcement regarding the strategic Bitcoin reserve plan within the coming weeks.
See also: "JPMorgan Says Stablecoins Continue to Hold an Advantage Over Tokenised Money Market Funds"
