Ki Young Ju Says Bitcoin May Need to Hit $55K Before True Recovery Begins

CryptoQuant CEO Ki Young Ju calls the current bitcoin market a clear bear cycle and warned that a genuine recovery could take months. He pointed to a fundamental imbalance: hundreds of billions of dollars have flowed into the market while overall market capitalization has stagnated or declined, a sign that selling pressure is overwhelming new capital.

Ju cautioned that short-term bounces should not be mistaken for the start of a new bull run. Ju laid out two paths for a sustainable rebound. One would see prices fall toward the realized price of about $55,000—the average cost basis of all bitcoin holders—before rebounding.

The other would produce prolonged sideways trading in the $60,000–$70,000 range for months before any next leg up. He stressed that preconditions for a lasting rally are not present: ETF inflows have stalled, over-the-counter demand has dried up, and realized and standard market capitalizations are flat or declining.

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