Expert Warns of Prolonged Bitcoin Decline Risks

CryptoQuant CEO warns of prolonged downturn without macro liquidity.

Negative sentiment prevails in the crypto market, according to CryptoQuant CEO Ki Young Ju. The expert emphasized that without an influx of macroeconomic liquidity, the industry risks entering a prolonged downturn.

Most Bitcoin on-chain indicators are bearish. Without macro liquidity, we enter a bear cycle. pic.twitter.com/6uy298q5Wo

— Ki Young Ju (@ki_young_ju) December 3, 2025

According to him, most on-chain indicators for Bitcoin point to a bearish scenario. The analyst supported his position with a chart of metrics. The data shows weakness in key areas:

• MVRV Z-score;
• bull/bear cycle indicator;
• network activity;
• liquidity of stablecoins.

The chart also highlights issues with the growth in demand for the leading cryptocurrency and a decline in on-chain traders’ profit margins. Technical signals confirm the overall market weakness.

Tense Situation

Adam Chu, chief researcher at Greeks.live, commented to Decrypt on the market’s vulnerability. He noted that traders maintain a bearish outlook, and digital assets face strong resistance when attempting to rise.

At the time of writing, Bitcoin is trading around $93,100. The asset has gained 0.3% over the past day and 2% over the week.

Bitget’s chief analyst Ryan Lee considers a short squeeze a more likely scenario.

“Institutional inflow remains stable, regulatory signals are becoming constructive, and sentiment is gradually shifting towards risk acceptance,” the expert emphasized.

Social Media Sentiment

The sharp swings in the crypto community’s mood—from fear to greed—perfectly reflect the price movement history of the leading cryptocurrency. This conclusion was reached by Santiment analysts.

🤑😱 According to social media data across X, Reddit, Telegram, 4Chan, BitcoinTalk, & Farcaster, the enormous swings from greed to fear have perfectly told the story for Bitcoin’s price. In the chart below:

🔴 Circles indicate days where there are abnormally higher BULLISH… pic.twitter.com/i37v1JjCZT

— Santiment (@santimentfeed) December 3, 2025

Experts studied data from platforms X, Reddit, Telegram, 4Chan, BitcoinTalk, and Farcaster. They confirmed the thesis that the market often moves in the opposite direction of the crowd’s expectations:

• signals for growth: days when the number of negative comments abnormally exceeds positive ones (fear zone) accurately predict a rebound in quotes;
• signs of decline: a predominance of optimistic, bullish statements (greed zone) serves as a reliable indicator of an impending correction.

According to Santiment, the latest Bitcoin rally has once again shifted retail investors into a state of greed. If the rally halts abruptly, euphoria could quickly dissipate.

Back in December, traders assessed the probability of a “crypto winter” at 7%.