Coin-Turk 19 minutes ago
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According to Ki Young Ju, CEO of CryptoQuant, the bullish cycle for Bitcoin (BTC ($82,997.67)) 
$82,980 has concluded. On-chain data suggest that Bitcoin will either decline or remain flat over the next six to twelve months. Ju notes a reduction in new liquidity and indicates that new whale-level investors are selling their BTC holdings at lower prices.
On-Chain Data Supports Bitcoin’s Downward Trend
On-chain data plays a crucial role in understanding Bitcoin’s price movements. Key metrics such as MVRV, SOPR, and NUPL are essential for determining price cycles. According to CryptoQuant’s data, the 365-day moving average, calculated using the average of these metrics, is used to identify major trend reversal points for Bitcoin.
Bear and Bull Cycles in BitcoinRecent updates indicate that this moving average has entered a new downward trend. H…
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