CryptoQuant CEO: Bitcoin Bull Market Has Ended
Ki Young Ju, the CEO of CryptoQuant, stated today that “the Bitcoin bull market has ended,” predicting a transition to a bear market or a period of consolidation in the next 6 to 12 months. Meanwhile, the community is paying close attention to the “Insider Brother” whale, who shorted 6,210 BTC with 40x leverage on Hyperliquid, with a position valued at up to $520 million.
(Background: The Bank of Korea: No consideration to include Bitcoin in national reserves, “high volatility” requires cautious evaluation)
(Additional context: Whales begin to long BTC, ETH, with one address making $2.2 million profit using 50x leverage)
Super Central Bank Week
This week marks Super Central Bank Week, with the Federal Reserve (Fed) set to hold its latest interest rate decision at 4 AM Taiwan time on Thursday. While most expect rates to remain unchanged, close attention will be on the accompanying dot plot. If Fed officials estimate fewer than two rate cuts this year, it could put global risk markets under pressure again, prompting investors to be wary of potential volatility.
According to Binance spot market data, Bitcoin experienced significant volatility over the past 12 hours, rebounding from $82,456 to $84,756 at 4 AM today, only to fall back to $83,128 due to selling pressure, nearly erasing the gains of the past 24 hours.
CryptoQuant CEO: Bitcoin Bull Market Has Ended
Ki Young Ju, CEO of the cryptocurrency analytics agency CryptoQuant, expressed pessimistic views today on social media platform X, asserting that the Bitcoin bull market has ended:
“The Bitcoin bull cycle is over, expecting 6–12 months of bearish or sideways price action. All on-chain data indicates bear market signals as market liquidity dries up, with new whales selling Bitcoin at lower prices.”
#Bitcoinbull cycle is over, expecting 6–12 months of bearish or sideways price action.
pic.twitter.com/f80bnNhjy4
— Ki Young Ju (@ki_young_ju) March 17, 2025
He added that CryptoQuant’s internal monitoring system had issued early warnings, indicating that the model uses on-chain indicators like MVRV, SOPR, and NUPL to calculate trend reversal points for the 365-day moving average to assess market cycles. However, this stance contradicts his comments a few days prior, where he stated:
“Although Bitcoin demand seems stagnant, it is too early to declare a bear market.” This change of stance has sparked heated discussions in the market, with netizens questioning:
“Three days ago you said the bull market was still intact; has the situation changed in three days?” Over the past year, Ki Young Ju’s Bitcoin price predictions have shifted from long-term super-bullish ($265,000) to short-term cautious, and now he believes the bull market has ended. Nonetheless, he often mentions, “I hope I am wrong,” so let us continue to observe.
Insider Whale Shorting BTC
In addition to the comments from the CryptoQuant CEO, the market is also closely monitoring the movements of the “Insider Brother” whale. This whale previously went long on Bitcoin with 50x leverage on Hyperliquid, and shortly after, Trump announced the inclusion of SOL, XRP, ADA, BTC, and ETH into the national strategic reserve, allowing him to achieve substantial profits and gain fame. The community has since dubbed him the “Hyperliquid 50x Brother” and refers to him as “Insider Brother.” Moreover, he is adept at causing significant losses for Hyperliquid, so the market closely watches his actions.
Recently, he once again heavily shorted BTC. On-chain analyst Yu Jin pointed out:
He has now shorted Bitcoin with his entire position, which is his largest position to date, amounting to $520 million. He shorted 6,210 BTC with 40x leverage (position value $520 million), with an entry price of $83,898 and a liquidation price of $85,561. This action has garnered significant attention from the market; should BTC break above $85,561, it may trigger a massive liquidation wave.
[Hyperliquid 50x Brother] is now fully short on BTC again, and this current position is his largest to date, valued at $520 million…
40x shorting 6,210 BTC (position value $520 million), entry price $83,898, liquidation price $85,561. For this position, he transferred a total of $16.75 million USDC into Hyperliquid as collateral. This is all the funds in his address (a few million U…
https://t.co/UUz3QeyFkP
pic.twitter.com/21Qc2K1ize
— Yu Jin (@EmberCN) March 18, 2025
Traders: BTC May Re-test $78,000 Before Breaking Out
As market sentiment diverges, some traders are relatively optimistic about Bitcoin’s trajectory. Renowned trader Captain Faibik analyzed on X:
Bitcoin may first re-test $78,000 to grab liquidity before experiencing a breakout. Once the breakout occurs, BTC could aim for $109,000 in the coming weeks (possibly by mid-April).
$BTC Falling Wedge on the Daily TF is still in play.
I think Bitcoin will hit $78k first to grab liquidity before an Upside Breakout.
Once the breakout occurs, Bitcoin is likely to reach $109k in the coming weeks (Possibly by mid-April)
Be Patient.. #Crypto #Bitcoin #BTC
pic.twitter.com/2TV7TFNc8w
— Captain Faibik (@CryptoFaibik) March 17, 2025
Another trader, CrypNuevo, also indicated that Bitcoin’s liquidity is currently concentrated above, suggesting that bulls have an opportunity to push prices higher. He pointed out:
The range between $85,400 and $87,100 is the main liquidity zone. Within the next week, Bitcoin may aim to break into that range. With the Fed set to announce its interest rate decision, investors should participate cautiously and closely monitor market trends to prepare for potential volatility.
But, based on liquidation data, most of the liquidations are to the upside. The area between $85.4k & $87.1k is the main liquidity zone. A move up targeting this area in the upcoming week seems more than likely.
pic.twitter.com/HI4nbakCp5
— CrypNuevo (@CrypNuevo) March 16, 2025
