Bitcoin market is at a crossroads: Will the next few weeks confirm the bull run or signal a downturn for the coin?
As BTC tests crucial levels, Ki Young Ju, CEO of CryptoQuant, suggests the next few weeks are critical. This period will determine if Bitcoin continues its upward trajectory toward the longest bull run in history or faces a downturn.
According to Ki, this pattern suggests the current bull run could extend until April 2025, aligning with prior cycles. The data shows Bitcoin’s market cap growth alongside realized cap differences, highlighting both bullish and bearish phases.Notably, BTC’s market cap now exceeds $1 trillion, mirroring the 2021 bull cycle, where a sharp demand-driven rally eventually led to overheated conditions.
Additionally, the reintroduction of U.S. tariffs increased demand for the dollar, contributing to Bitcoin’s drop below the 200-day simple moving average. The upcoming months are crucial, as a sustained recovery in demand is needed to reaffirm bullish momentum and prevent a prolonged downturn.
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