Bitcoin continues to fluctuate within a broad range, making it premature to discuss the return of a bull run until it confidently breaks $100,000, according to CryptoQuant CEO Ki Young Ju.
After I said the bull cycle was over, #Bitcoin dropped 10%—but now it’s 10% above where it was when I made that call.
I still think we’re moving within a wide range. If it breaks above $100K, I’ll gladly admit I was wrong. Until then, I’m keeping an eye on the data for a few…
— Ki Young Ju (@ki_young_ju) April 23, 2025
In March, the expert concluded that the upward trend had ended, predicting that prices would decline or remain sideways over the next 6-12 months.
Following a rise to $94,000, Ki Young Ju acknowledged that the price was 10% above the level at which he declared the bull trend over.
He added that he would continue to monitor the data for a few more weeks in search of signs of an upward reversal. However, until it surpasses $100,000, his viewpoint remains unchanged.
According to the CEO of CryptoQuant, the market currently tends to react to every comment from U.S. President Donald Trump. Therefore, short-term price fluctuations are much more dependent on events, making them difficult to analyze using on-chain indicators.
“If Bitcoin reaches a new ATH by Q4, I’m ready to discard the cycle theory,” he concluded.
As reported by Standard Chartered, the first cryptocurrency will continue to appreciate if threats to the independence of the Fed persist.
Earlier, BitMEX co-founder Arthur Hayes predicted that the price of digital gold would rise above $100,000 due to the U.S. Treasury’s buyback of government bonds.