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Bitcoin ($BTC) surged above $82,000 in recent weeks, sparking bullish excitement. Some analysts argued that this rise was in the early stages of a bull market.
However, some analysts warned that this rise could be a bear trap, arguing that bullish signs have yet to emerge.
One of these analysts was Ki Young Ju, the founder of CryptoQuant.
Ki Young Ju, arguing that it’s still too early for a bull run, reiterated his prediction. In a statement from his X account, Ju stated that the current Bitcoin market hasn’t fully entered a bull market phase yet, and that a true bull run hasn’t begun.
In this analysis, Ju uses CryptoQuant’s “Bull Score Index” data and argues that, according to this data, a true bull run has not yet begun.
According to the renowned CEO, all the signals will become much clearer when a true bull run begins in Bitcoin. However, he added that Bitcoin and the market have not yet reached that stage.
“Once the real Bitcoin bull run begins, all the signals will be very clear.”
We haven’t gotten there yet.”
CZ’s Bitcoin Statements Are Making Headlines!
While the CEO of CryptoQuant argues that Bitcoin is still in a bear market and hasn’t entered a bull phase yet, the statements made by Binance founder CZ regarding Bitcoin have also resurfaced.
CZ’s statements regarding countries’ $BTC reserves in recent months have attracted attention. In this context, CZ argues that Asian countries are quietly building up Bitcoin reserves.
CZ predicts that Asian countries are highly likely to conduct their strategic Bitcoin reserve building activities quietly rather than publicly announcing them.
In this context, CZ believes that Asian countries are likely to quietly accumulate Bitcoin reserves, citing cultural differences as a reason.
CZ also argued that the narrative that Bitcoin and cryptocurrencies will disrupt traditional finance is false.
CZ’s statements regarding countries’ $BTC reserves are noteworthy because they come at a time when a significant announcement from US President Donald Trump concerning a national $BTC reserve is expected. Indeed, Patrick Witt, head of the White House Cryptocurrency Advisory Committee, recently stated that Trump will make an important announcement regarding a strategic $BTC reserve plan in the coming weeks.
*This is not investment advice.
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