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According to Ki Young Ju, CEO of CryptoQuant, one of the key reasons why the digital asset market is still slow is because Bitcoin (BTC) and other cryptocurrencies are being held back. He informed his 410,300 X followers that unless American attitude changes, market conditions are not likely to get better.
Despite the current stagnation, Ki Young Ju reassures that the broader market trend has not changed. “There’s no significant on-chain activity, and key indicators are neutral, suggesting the bull cycle is still intact,” he stated. He also noted that Bitcoin’s fundamentals remain strong, with more mining rigs coming online.
If the cycle were to end now, he argues, it would be an outcome that “no one wanted—not old whales, mining companies, the traditional finance sector, or even Trump. (For your information, the market doesn’t care about retail.)”
Ki Young Ju also spoke on Ethereum (ETH), even if the movement of Bitcoin is still unclear. He downplayed worries that Ethereum is about to enter a distribution phase, which marks the end of a bull market and the beginning of a bear market. Assets trade laterally during a distribution period before going into a downward trend.
He did point out that retail traders’ liquidity is still lower than it was during the last bull market. The market’s recovery may be moving more slowly as a result of this lack of retail engagement.
Investors are keeping a careful eye on US market sentiment for indications of change as the cryptocurrency market waits for further impetus.