Ki Young Ju, CEO of Crypto Quant, a leading cryptocurrency analytics firm, has turned bearish on the market. Ju, a vocal advocate for a bull market over the past two years, revealed his changed stance in a series of tweets, expressing his expectation of a market downturn.

In one of his tweets, Ju summarized his bearish outlook, predicting a prolonged period of stagnant or declining prices, potentially lasting between six months to a year. He firmly stated, “Bitcoin bull cycle is over.”

#Bitcoin bull 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

Crypto Quant Data Signals Looming Bear Run for Bitcoin

Ki Young Ju had consistently and optimistically forecasted a prolonged bull run. A few weeks back when Bitcoin dipped below $80,000, the Crypto Fear and Greed Index plummeted to a 12-month low of 20, indicating extreme fear in the market.

Not deterred by the dip, Ki Young Ju insisted that the bull cycle would remain intact. However, his recent tweets revealed a sudden change of heart, which he backed up with a multitude of on-chain indicators that unequivocally point to an impending bear market.

According to the Crypto Quant CEO, the warning signs include a lack of new liquidity, as shown by realized cap-based indicators. In addition, Ju highlighted that a significant surge in trading volume near the $100,000 level was unable to propel prices upward, while ETF inflows have remained in negative territory for three weeks running.

Ju emphasized that his bearish stance is based on data, rather than personal hopes or biases. “I can’t keep sharing just my hopes when the data keeps signaling bearish,” he tweeted.

Further Signs of an Upcoming Bear Run

The Crypto Quant CEO revealed that his firm’s on-chain metrics, including MVRV, SOPR, and NUPL, are all flashing bearish signals. He also shared a chart showing a 365-day moving average of these indicators, which identifies inflection points where the trend changes.

Ju warned that with fresh liquidity dwindling, new large-scale investors are selling their Bitcoin holdings at discounted prices. He advised his followers to adjust their positions accordingly, noting that Crypto Quant users who subscribed to his alerts had already received this signal.

In a previous forecast in November, Ki Young Ju predicted that Bitcoin would close out 2024 at $58k.