Bitcoin May Need to Drop Further Before Confirming Market Bottom

CryptoQuant CEO Ki Young Ju believes that Bitcoin may need to drop further before confirming a true market bottom. According to him, the cryptocurrency has not yet reached its realized price, a key historical indicator of bear market lows. This means that despite recent price pullbacks, Bitcoin is still trading above its average acquisition cost level.

This suggests that the bear phase may continue, with analysts remaining cautious about a confirmed recovery until fresh capital enters the market. However, new market dynamics such as spot ETFs and institutional demand could alter traditional patterns, making this cycle potentially different.