The CEO of digital asset market intelligence agency CryptoQuant is highlighting one issue that’s holding again Bitcoin (BTC) and different cryptocurrencies from rallying.
Ki Younger Ju tells his 410,300 followers on the social media platform X that the crypto and Bitcoin markets “will possible stay gradual till sentiment within the US improves.”
The CryptoQuant CEO, nevertheless, says that the market outlook stays unchanged.
“There’s no vital on-chain exercise, and key indicators are impartial, suggesting the bull cycle remains to be intact. Fundamentals stay sturdy, with extra mining rigs coming on-line.
If the cycle ends right here, it’s an consequence nobody needed—not outdated whales, mining corporations, the standard finance sector, and even Trump. (On your data, the market doesn’t care about retail.)”
Turning to Ethereum (ETH), the CryptoQuant CEO says the second-largest crypto asset by market cap will not be in a distribution section – a stage in a market cycle that occurs after a chronic bull run however earlier than a chronic bear run kicks off. In a distribution section, costs transfer sideways in a variety earlier than the downtrend begins.
Based on Ki Younger Ju, the liquidity emanating from retail merchants and buyers is weak relative to the extent of liquidity recorded in the course of the earlier bull cycle.
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