{"id":73293,"date":"2026-05-30T08:05:40","date_gmt":"2026-05-30T08:05:40","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/cryptoquants-ki-young-ju-warns-bitcoins-bear-market-could-run-into-early-2027\/"},"modified":"2026-05-30T08:05:40","modified_gmt":"2026-05-30T08:05:40","slug":"cryptoquants-ki-young-ju-warns-bitcoins-bear-market-could-run-into-early-2027","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/cryptoquants-ki-young-ju-warns-bitcoins-bear-market-could-run-into-early-2027\/","title":{"rendered":"Cryptoquant&#8217;s Ki Young Ju Warns Bitcoin&#8217;s Bear Market Could Run Into Early 2027"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<p><span style=\"font-weight:400\"><\/p>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Cryptoquant CEO Ki Young Ju says bitcoin\u2019s PnL typically falls for about 18 months after a profit-taking cascade.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Bitcoin\u2019s downtrend began in October 2025 and won\u2019t reverse until unrealized profits rebuild, Ju argues.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Cryptoquant\u2019s Bull-Bear Cycle Indicator flipped bullish on May 12, muddying the bear call.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p><\/span><\/p>\n<h2><span style=\"font-weight:400\">Still Some Time To Go Till The Bears Retreat<\/span><\/h2>\n<p><span style=\"font-weight:400\"> <span>Bitcoin<\/span>\u2019s <span>bear market<\/span> may still have a year or more to run, according to Cryptoquant founder and chief executive Ki Young Ju, who spelled out the timeline <\/span><a href=\"https:\/\/twitter.com\/ki_young_ju\/status\/2060302097795645596\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight:400\">in a post<\/span><\/a><span style=\"font-weight:400\"> on X. \u201cOnce profit-taking cascades, <span>Bitcoin<\/span> investors\u2019 PnL typically falls for about 18 months.\u201d Ju wrote, using shorthand for aggregate investor profit and loss (PnL). \u201cSince the trend turned in Oct 2025, the <a href=\"http:\/\/www.bitcoin.com\/get-started\/bull-market-vs-bear-market\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">bear market<\/a> could last until early 2027.\u201d<\/span><\/p>\n<p><span style=\"font-weight:400\">His reasoning hinges on the direction of realized profits. Put simply, holders are still sitting on paper gains they are steadily cashing in, a dynamic that historically keeps pressure on price until that selling burns itself out. The PnL index he relies on blends several onchain valuation gauges (including the market-value-to-realized-value (MVRV) ratio and net unrealized profit and loss) into a single trend line that peaked around mid-2025 and has been sliding since.<\/span><\/p>\n<figure id=\"attachment_818177\" aria-describedby=\"caption-attachment-818177\" style=\"width:1280px\" class=\"wp-caption aligncenter\"><figcaption id=\"caption-attachment-818177\" class=\"wp-caption-text\">Image source: Cryptoquant<\/figcaption><\/figure>\n<p><span style=\"font-weight:400\">The warning extends a position Ju has pressed for much of the past year, as he first declared <a href=\"https:\/\/www.binance.com\/en\/price\/bitcoin\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">bitcoin<\/a>\u2019s <\/span><a href=\"https:\/\/news.bitcoin.com\/realized-cap-vs-market-cap-cryptoquant-ceo-points-to-bitcoin-bear-phase\/\"><span style=\"font-weight:400\">bull cycle over<\/span><\/a><span style=\"font-weight:400\"> in 2025, citing a widening gap between the asset\u2019s realized capitalization and its market capitalization. <\/span><\/p>\n<h2><span style=\"font-weight:400\">Not Everyone, Including Cryptoquant\u2019s Own Data, Agrees<\/span><\/h2>\n<p><span style=\"font-weight:400\">The bleak timeline is far from settled even inside Ju\u2019s own firm, as Cryptoquant\u2019s Bull-Bear Cycle Indicator <\/span><a href=\"https:\/\/news.bitcoin.com\/bitcoin-bull-bear-cycle-indicator-green-2026\/\"><span style=\"font-weight:400\">turned green<\/span><\/a><span style=\"font-weight:400\"> on May 12 for the first time since March 2023, a signal that has historically coincided with the start of more constructive conditions. <\/span><\/p>\n<p><span style=\"font-weight:400\">Other analysts are more <a href=\"http:\/\/www.bitcoin.com\/get-started\/bull-market-vs-bear-market\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">bullish<\/a> still, with research firm K33 contending <a href=\"https:\/\/www.binance.com\/en\/price\/bitcoin\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">bitcoin<\/a>\u2019s roughly $60,000 February low already marked the <\/span><a href=\"https:\/\/news.bitcoin.com\/k33-research-bitcoin-bear-market-bottom-60000-maximum-drawdown-2026\/\"><span style=\"font-weight:400\">maximum drawdown<\/span><\/a><span style=\"font-weight:400\"> of this cycle (a decline of about 52% from the record $126,272 the asset printed on Oct. 6, 2025).<\/span><\/p>\n<p><span style=\"font-weight:400\">The split reveals a murky mid-cycle picture, because if Ju is right, traders face another grinding stretch before realized profits reset, and the next leg higher can begin. If the greening cycle indicator and steady ETF inflows win out, the bottom may already be in. <\/span><\/p>\n<p><span style=\"font-weight:400\">Either way, Ju has handed the market a clear tripwire to watch wherein the moment unrealized profits start climbing while realized profits fade, the 18-month clock he describes would finally be ready to flip.<\/span><\/p>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/news.bitcoin.com\/cryptoquant-ki-young-ju-bitcoin-bear-market-2027\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Cryptoquant CEO Ki Young Ju says bitcoin\u2019s PnL typically falls for about 18 months after a profit-taking cascade. Bitcoin\u2019s downtrend began in October 2025 and won\u2019t reverse until unrealized profits rebuild, Ju argues. Cryptoquant\u2019s Bull-Bear Cycle Indicator flipped bullish on May 12, muddying the bear call. [&hellip;]<\/p>\n","protected":false},"author":3947362404,"featured_media":73294,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/73293"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362404"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=73293"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/73293\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/73294"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=73293"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=73293"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=73293"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}