Bitcoin Bearish Consensus Strengthens Amid Ongoing Macro Challenges

Ki Young Ju, CEO of CryptoQuant, believes the sentiment among Bitcoin analysts is now leaning bearish. In a recent post on X (formerly Twitter), he noted that the market consensus has shifted, aligning with his earlier projection that the current bearish phase could persist until early 2027.

According to Ju's analysis, several macroeconomic factors such as persistent inflation and rising interest rates are weighing heavily on risk assets, including cryptocurrencies. Bitcoin, often viewed as a leading indicator for the broader crypto market, has struggled to maintain upward momentum.

The bearish consensus is not an isolated view, with many analysts recalibrating their expectations after a period of relative optimism following Bitcoin's price surges in previous cycles. Ju's prediction of a prolonged downturn implies a multi-year period of potential consolidation or decline, which could test the conviction of even the most dedicated market participants.