CryptoQuant CEO: On-Chain Indicators Signal Bitcoin Bull Market is Back

According to Ki Young Ju, the head of CryptoQuant, on-chain data suggests that the Bitcoin bull market is back. Ju's Bitcoin bull-bear market cycle indicator, which tracks investor sentiment, has returned to a bullish state after a brief dip into bear territory. Ju believes that the bull market is still intact based on the data, but he may reconsider his conclusion if the market does not recover in the next two weeks. Ju also reported that 404,448 Bitcoin had moved to permanent holder addresses over a 30-day period, indicating accumulation.