Is Bitcoin’s Bull Cycle Over? Experts Weigh In

The future of Bitcoin's market has become uncertain as CryptoQuant CEO Ki Young Ju suggests that the bull market may be over. In a post on March 17, Ju predicted that Bitcoin could experience 6 to 12 months of bearish or sideways price movement. This outlook change comes after Ju stated in early March that the bull cycle was still intact, though moving slowly.

Ju’s recent comments contrast with his earlier stance. He now believes that Bitcoin's on-chain metrics, which measure market activity, indicate that a bear market may be on the horizon. He cited a decrease in fresh liquidity and the selling activity of new Bitcoin whales at lower prices as key signs of this shift.

Bitcoin’s price has been hovering just below $83,000, with many analysts pointing to these market movements as evidence of a cooling off period after the cryptocurrency’s impressive rise. Investors are now faced with whether Bitcoin can maintain its momentum or if a correction is imminent.

Despite Ju’s bearish outlook, other analysts remain more optimistic. Swyftx lead analyst Pav Hundal pointed out that while some investors feel uncertain due to external factors like U.S. tariffs, the broader economic indicators suggest a positive trend. Hundal believes that when market conditions stabilize, money will flow into riskier assets like Bitcoin.

Additionally, the global M2 money supply continues to increase, which some analysts see as a potential catalyst for Bitcoin’s price. Analyst Seth noted that Bitcoin tends to correlate with money supply trends, and with new highs in the global money supply, the cryptocurrency may experience another rally in the near future.

Similarly, CoinRoutes CEO Dave Weisberger stated that if Bitcoin's correlation to money supply holds, it could reach new all-time highs by late April. Weisberger pointed to Bitcoin’s historical patterns, suggesting that when money supply grows, Bitcoin tends to follow suit with upward price movements.

Despite these optimistic views, some signals indicate that Bitcoin’s price could face challenges in the near future. According to Ju, the drying up of fresh liquidity and the activity of new Bitcoin whales selling at lower prices may point to prolonged bearish market conditions. Ju’s concern comes as Bitcoin funding rates remain close to 0%, reflecting indecisiveness and a lack of confidence among traders.

The behavior of the broader market reinforces this sentiment. As traders remain cautious and wait for clearer signals, Bitcoin’s price could see further volatility in the coming months. Many investors are closely monitoring the situation, hoping for signs that the market will rebound.

While some analysts believe Bitcoin could face a period of struggle, others are confident in its potential for growth. Swan Bitcoin CEO Cory Klippsten remains hopeful, suggesting over a 50% chance that Bitcoin will hit new all-time highs before June. With the current price of Bitcoin sitting around $83,000, Klippsten believes the potential for growth remains strong, despite the volatility.

Some experts expect Bitcoin to surge in price, especially if global financial conditions shift toward riskier assets. As the market remains on edge, Bitcoin’s next moves will depend on how macroeconomic factors and investor sentiment evolve.

With many analysts predicting that Bitcoin could break its all-time high of $109,000 set in January 2023, the cryptocurrency world is waiting to see whether Bitcoin can reclaim its bullish trajectory or if a new consolidation phase is on the horizon.

While the debate over Bitcoin’s future continues, there’s no denying the volatility and uncertainty surrounding its price action. The next few months will likely determine whether the current market downturn is temporary or if Bitcoin has truly entered a bear market phase. With experts divided, investors must stay informed and prepared for any eventuality in Bitcoin’s ever-changing landscape.