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Bitcoin: Key Metric Suggests ‘Bull Cycle Is Over’ – Should You Sell Now?
The recent performance of the cryptocurrency market has sparked concerns about the future direction of Bitcoin’s price. A key metric, known as the realized cap, has reportedly indicated that the bull cycle may have come to an end. This raises the question: should investors sell their Bitcoin holdings now?
According to Ki Young Ju, CEO and Co-Founder of CryptoQuant, the “bull cycle is over.” His argument relies on the concept of realized cap, which measures the market capitalization based on the value at which each coin was last moved. By comparing this metric with a 365-day moving average, it can be seen that a decline in this delta growth has been observed since November-December 2024.
Ju’s analysis suggests that capital inflows have failed to drive price gains, indicating a bearish market outlook. Furthermore, he predicts that any short-term rally is unlikely and the bearish phase could persist for another six months.
On the other hand, rising global M2 money supply data indicates increasing buying power in the market. The halt in Tether (USDT) reserve growth also raises questions about the sustainability of this trend. Interestingly, a slowdown in Tether’s growth accompanied the previous market top.
In conclusion, while there are contrasting indicators, the negative trend observed in the realized cap suggests that the possibility of another bear market is not ruled out. It would be wise for investors to consider their options carefully before making any decisions.
As always, it is crucial to remember that the cryptocurrency market is notoriously unpredictable and subject to significant volatility. Therefore, any investment or trading decision should be made after conducting thorough research and consulting with a financial advisor if necessary.
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Source: https://ambcrypto.com/bitcoin-key-metric-suggests-bull-cycle-is-over-should-you-sell-now/
