Bitcoin price recently sent shock waves across the broader market with its fluctuations, which led to the end of the potential bull cycle. It is worth noting that Cryptoquant CEO said on Tuesday that “the BTC Bull has ended,” which leads to market interests worldwide. However, the latest market statistics, such as high stablecoin flows, broader progress, and upscale price plan compositions, indicate the opposite that the gathering is waiting.
The CEO of Cryptoquant says that Bitcoin Bull has ended, is this true?
The BTC price has lost approximately 1 % value and exchange of hands at $ 83,179 from the time of the press. The currency was mainly stagnant around the price level 80 thousand dollars -85 thousand dollars during the past week.
In the X Publishing on March 18, CEO of Cryptoquant Transfer to Young Jo He believes that the leading bull cycle is over. Besides, Young expects from 6 to 12 months of a declining or side trading session for the next encryption.
“Every metric scale on the series indicates the bear market,” says CEO. It is worth noting that this comment stems from the CEO’s observations on drying fresh liquidity and selling new whales at lower prices.
In addition, the end of the bull cycle warning coincides with PCA (the main component analysis), which is a measure of sides analysis on the chain. Young reveals that after analyzing aspects such as MVRV, SOPR and NUPL to calculate a 365 -day moving average, the signal sets a turning point, AKA Trend Reversal.
Although this market dynamics raised the market fears of the upcoming correction/unification of Bitcoin, other developments have sparked the opposite of the encryption market.
Stablecoin flowing sparkles optimism
According to X Post by Matrixport on March 18, Stablecoin flows continue to rise despite recent market disturbances. Tether (USDT) and Circle (USDC) witness fixed flows, bringing more liquidity to the market.
According to what was reported, the growth of Stablecoin registered in the fourth quarter of last year was managed, although the upper trend continues. Fresh Capital continues to flow to the encryption market despite the turbulent procedure amid Macro’s heat, indicating renewable investor morale.
This epic, in turn, has sparked up the bullish feelings because the demand for bitcoin may rise forward.
Metaplanet continues to purchase a boom
At the same time, the acquisition plans in Japan continue in Metdelianite to emphasize the prosperous institutional interest in the main assets. The Japanese General Company acquired 150 BTC at a value of $ 12.5 million on March 18 as part of its treasury operations.
Constant purchase is a strong confidence supporter for the market participants, indicating the founding of the founders of the category of encryption assets. COININAPE reported that SGX’s exchange is also looking to launch future Bitcoin contracts amid the high adoption in the Asian scene.
Meanwhile, even Michael Celor’s strategy bought 130 coins for $ 10.7 million in recent times. In all, these developments indicated that the prices are possible when looking at long -term horizons.
The price is waiting for?
The “StockMoney Lizards” was published in X on Tuesday, noting that BTC in a corrective channel features the highest low and bottom levels. However, this declining momentum diminishes, for every analyst. The current price scheme form a bullish difference in the daily time frame.
As for the context, the bullish difference indicates a reflection in the declining direction, indicating that price gains are looming on the horizon. However, the analyst also revealed that a possible decline to the mid -seventies expected. However, <80k remains as a zone of the rustle of the chain for many.
In conclusion, the Bitcoin Bull may not exceed the long term, although short -term fluctuations may be expected amid wider directions.
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