Bitcoin Bull Cycle Likely To Go On Till Mid-2025: CryptoQuant CEO 💹

CryptoQuant CEO Ki Young Ju believes the current Bitcoin bull cycle could extend until mid-2025, driven by patterns of old whales' profit-taking. Historically, these whales profit during bull markets, with their selling leading to new capital entering accumulation addresses. Accumulation addresses, holding at least 10 BTC, absorb these sell-offs, driving realized prices up. Past cycles show profit-taking lasted 18 months; this cycle suggests a similar duration, with four months already gone. Hence, the bull cycle may persist for another 14 months, possibly until mid-2025. Young Ju's analysis utilizes the Realized Price metric, reflecting the cost basis for average investors in accumulation addresses. When the realized price is above BTC's spot price, it indicates unrealized losses, and vice versa. The current trend shows accumulation addresses absorbing profit-taking from old whales, suggesting sustained demand from perennial HODLers. Bitcoin recently surged close to $70,000, showing a 3% increase within a day. The trend in realized price implies continued demand supporting rising BTC prices, potentially extending the bull market for over a year. This aligns with profit-taking patterns from past cycles where old whales' actions significantly influenced market dynamics.