Bitcoin Market Remains in Waiting Room, Says CryptoQuant CEO

CryptoQuant CEO Ki Young Ju has cautioned investors about the current state of the Bitcoin market. In an on-chain update, he stated that the real Bitcoin bull run hasn't started yet, as the necessary signals are not yet present.

According to Ju, a true bull phase requires alignment among various metrics such as exchange reserve patterns, realized price zones, MVRV ratios, and miner activity. However, these data points have not converged sharply in the current market, indicating that accumulation by long-term holders is still lacking.

Ju's emphasis on timing highlights the importance of patience in waiting for a sustainable expansion. Historically, the real impulse begins only after a prolonged period of quiet accumulation, falling volatility, and a decisive shift in on-chain cost basis distribution. The current cycle may be stuck in this waiting room longer than many expect.