The post CryptoQuant CEO Needs Bitcoin To Break This Price Level to Turn Bullish Again appeared on BitcoinEthereumNews.com.

Bitcoin rebounds above $93,000 after reaching $94,700 on Tuesday. Ki Young Ju remains skeptical despite price recovery from April lows. Other analysts see current rally confirming long-term bullish trend. Ki Young Ju, the CEO of CryptoQuant, insists that Bitcoin must reach the crucial $100,000 barrier before he would change his pessimistic assessment of the current market cycle, even in light of the cryptocurrency’s remarkable recent resurgence. Bitcoin has shown resilience this week and gained 2.71% on Monday, April 21, followed by a substantial 6.83% surge on Tuesday, April 22. This upward momentum brought Bitcoin above $90,000 for the first time in almost a month, reaching a high of $94,700—a figure not seen in seven weeks. Even with a minor 0.43% retracement today, Bitcoin has maintained its position above $93,000, reigniting optimism among many market analysts. This recovery challenges Ki Young Ju’s previous assessment from March 18, when he declared the Bitcoin bull run was over as the cryptocurrency struggled near $83,000. At that time, the CryptoQuant CEO highlighted several concerning factors, including diminishing liquidity, reduced ETF inflows, and the inability of large trading volumes to break through the $100,000 resistance level. After I said the bull cycle was over, #Bitcoin dropped 10%—but now it’s 10% above where it was when I made that call. I still think we’re moving within a wide range. If it breaks above $100K, I’ll gladly admit I was wrong. Until then, I’m keeping an eye on the data for a few… — Ki Young Ju (@ki_young_ju) April 23, 2025 Following his bearish pronouncement, Bitcoin continued its downward trajectory, eventually dropping to $74,000 on April 7—representing a 10% decline from the $82,000 mark. Although BTC briefly rebounded above $82,000 shortly afterward, it remained confined to the lower range of the $80,000 level until this week’s rally.…

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Filed under: News - @ April 25, 2025 12:21 pm