Don’t Expect Quick BTC Rally: Ki Young Ju Sees 6+ Month Bear Data Pattern

• Realized Cap rising while prices stay flat signals ongoing bearish market pressure.  
• High sell pressure limits price gains despite substantial capital inflows.  
• Historical trends show shorter bear cycles and increasing long-term market resilience.

Bitcoin might face extended bearish pressure over the coming months, warns CryptoQuant CEO Ki Young Ju, pointing to specific on-chain signals even as capital continues to flow into the asset. He cautions that market data reveals a lack of positive price momentum despite these inflows, a pattern historically linked to bearish crypto cycles.

#Bitcoin bull cycle is over — here’s why.

There’s a concept in on-chain data called Realized Cap. It works like this: when BTC enters a blockchain wallet, it's considered a "buy," and when it leaves, it's treated as a "sell." Using this idea, we can estimate an average cost… pic.twitter.com/xDHRin8N1K

— Ki Young Ju (@ki_young_ju) April 5, 2025

Ju pointed to the growing gap between Realized Cap and Market Cap as a primary indicator. Realized Cap measures the total capital invested in Bitcoin based on actual on-chain transactions. Market Cap, conversely, is simply curre…

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