Bitcoin's Recent Price Struggles Have Sparked a Divide Among Crypto Experts

CryptoQuant CEO Ki Young Ju declares Bitcoin's bull cycle dead, forecasting up to 12 months of decline. By Rakesh.output: Bitcoin's recent price struggles have sparked a divide among crypto experts. While some predict a shift toward bearish sentiment and anticipate months of decline or stagnation, others remain confident the rally still has room to grow.

Cryptocurrency markets have seen a shift in sentiment, with experts divided on whether Bitcoin's recent price struggles signal further decline or a continuation of the rally.

As Bitcoin hovers in the mid-$80,000s, analysts are examining on-chain metrics and broader market trends to anticipate the next move.

CryptoQuant CEO Ki Young Ju believes Bitcoin's bull cycle has ended, expecting up to 12 months of decline or stagnation.

"The data keeps signaling bearish. Bitcoin bull cycle is over, expecting 6-12 months of bearish or sideways price action," he warns.

According to Ju, all on-chain metrics point to a bear market as liquidity dries up and whales sell Bitcoin at lower prices.

Weak Demand, Fading Accumulation

On-chain analytics firm Glassnode reports weakening Bitcoin fundamentals in its March report.

Since Bitcoin's second attempt to break above $105,000 in late January failed, demand has been weak, and accumulation has diminished.

The failed rally triggered market contraction and consolidation, prolonging Bitcoin's slump.

But unlike the earlier phase, where a strong dip-buying response was evident at lower price levels, this time, there was no significant buying activity.

This shift in behavior suggests a change in sentiment towards risk aversion and capital preservation, according to Glassnode.

"The lack of dip-buying at lower levels suggests that capital rotation is underway, potentially leading to a more prolonged consolidation or corrective phase before the market finds a firm support base."

Despite high trading volumes near the $100,000 threshold and large outflows from major exchanges, Bitcoin's price remained stagnant, and ETF inflows have been negative for three consecutive weeks, reflecting waning institutional interest.

Bitcoin futures funding rates are also converging towards 0, indicating weak demand for both long and short positions and growing trader uncertainty.

Broader macroeconomic concerns and trade tensions push investors away from risky assets like Bitcoin, Glassnode analysts say.

Bitcoin Holds Steady Ahead of FOMC Meeting

Bitcoin has held steady around the $82,000 support level for a week, showing a minor 1.3% change and no signs of volatility ahead of the Federal Open Market Committee (FOMC) meeting on Wednesday.

The FOMC meeting is crucial for the financial markets, as decisions on interest rates and monetary policy directly impact investor sentiment and market liquidity.

Market expectations are high that the Federal Reserve will keep interest rates unchanged between 4.25% and 4.50%.

The CME FedWatch tool, which tracks market expectations for future Federal Reserve interest rate decisions, shows a 99% probability that no rate cuts will be announced.

With no rate cut expected, Bitcoin's price is likely to continue its current sideways trajectory.

Bitcoin Bottom Confirmed, Says Trader

However, not all crypto market participants are bearish.

Crypto trader Astronomer stated in a series of posts on X that Bitcoin's bottom is confirmed, expressing surprise that many reputable traders expected lower prices after Bitcoin briefly dipped below the $80,000 institutional level.

According to Astronomer, Bitcoin has bottomed and reached its higher timeframe support of nearly $80,000.

Despite recent declines, the trader remains bullish, predicting Bitcoin will reach $160K-$200K by the end of this cycle.

Astronomer believes Bitcoin's current price action mirrors the parabolic advance seen in 2017, reinforcing his optimistic outlook.

Why This Matters

Bitcoin struggles to climb as demand weakens and uncertainty grows, signaling a cautious market ahead.