TechFlow reports, citing Cointelegraph, that CryptoQuant CEO Ki Young Ju maintains a bullish outlook despite Bitcoin's recent sideways price movement and failure to break above $100,000. He believes the current market remains within a bull cycle, expecting the uptrend to continue even if prices correct by 30% from all-time highs—such as falling from $110,000 to $77,000.
CryptoQuant analyst Timo Oinonen forecasts a Bitcoin correction in May this year, followed by a sideways consolidation period over the summer, with prices resuming upward momentum in the fourth quarter—a seasonal pattern validated in 2013, 2016, 2017, 2020, 2021, 2023, and 2024.
Previous report: Ki Young Ju shared data indicating several key support levels in the current market: the average cost basis of U.S. spot ETF investors sits at $89,000, which has acted as support since last November; Binance users' overall breakeven point is $59,000; and Bitcoin miners’ breakeven level stands at $57,000, historically marking the beginning of bear markets when breached to the downside.
