Bitcoin May Maintain Bull Market Despite Potential 30% Price Drop, According to CryptoQuant CEO

• Bitcoin bulls remain optimistic about 2025, as CryptoQuant CEO Ki Young Ju dismisses concerns of an impending bear market.

• Despite a month of stagnant price action, the overall sentiment remains bullish, with key support levels anticipated to hold.

• “We’re still in a bull cycle,” stated Ki Young Ju, indicating that historical price patterns reaffirm a steady upward trajectory.

CryptoQuant’s Ki Young Ju forecasts that Bitcoin will remain bullish in 2025, despite potential price dips, maintaining critical support levels.

CryptoQuant CEO Predicts Robust Bitcoin Outlook for 2025

In a recent commentary, Ki Young Ju, CEO of CryptoQuant, suggested that Bitcoin (BTC) could experience a significant price correction and still remain in a bull market. Ju believes that a price drop to $77,000 would not signal the end of the current bull cycle, citing historical trends that support prolonged upward movements even after substantial corrections.

This sentiment comes after Bitcoin’s recent struggle to regain the critical $100,000 level following a month of sideways trading. “I don’t think we’ll enter a bear market this year,” Ju emphasized, pointing to the cost basis of various investor cohorts as a supportive factor for future price increases.

Important Cost Bases and Market Trends

Ju’s insights highlight significant cost bases that may influence market dynamics. Notably, he indicated that the cost basis for the US spot Bitcoin ETF investors stands at $89,000, functioning as a crucial support level since November. As reported by Cointelegraph, this has been compounded by an influx of new Bitcoin whales whose net buy-in levels mirror this price point, enhancing its significance for traders.

In contrast, traders on the global exchange Binance have established a breakeven point at a much lower $59,000. Strikingly, Bitcoin mining companies face imminent red territory should prices dip below $57,000. Ju noted that historically, falling below this threshold during past downturns often confirmed a shift to a bear market, emphasizing the critical nature of these price levels.

The Implications of Post-Halving Bitcoin Performance

Amidst these predictions, analysts at CryptoQuant have indicated that the ongoing halving cycle may lead to further upside for Bitcoin prices. In a blog post, analyst Timo Oinonen mentioned that since last April’s halving, the price has only appreciated about 60%, suggesting much room for growth.

Oinonen anticipates a sell-off in May, followed by sideways movement throughout the summer, with prices likely to increase as we approach the last quarter of the year. “The positive Q4 seasonality has been a recurring theme in past cycles, reinforcing expectations for elevated price levels toward the end of the year,” he concluded.

Future Perspectives on Market Dynamics

As the cryptocurrency market continues to evolve, the outlook for Bitcoin appears promising according to several indicators. The absence of bearish sentiment this year, along with established cost bases, paints a picture of resilience among Bitcoin investors. Ju’s perspective, coupled with analytical insights from Oinonen, creates a consensus that any potential price corrections may merely be temporary setbacks in the broader upward trajectory.

Conclusion

In summary, the predictions from Ki Young Ju and his colleagues at CryptoQuant suggest a robust outlook for Bitcoin in 2025, with strong support levels expected to hold firm in the face of potential dips. The overall sentiment remains bullish, despite recent price stagnation. For investors, these insights provide clarity for potential strategies moving forward, highlighting the importance of monitoring key price levels and historic trends.