ABMedia founder Ki Young Ju said today that the Bit market is slowing down due to the low sentiment in the U.S. market. However, on-chain data remains neutral, indicating that the Bull cycle has not yet ended. He emphasized that if this Bull cycle ends now, it would not be a result desired by the major market participants such as the whales, traditional financial institutions, and U.S. President Trump.
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ToggleU.S. market sentiment is low, Bit is under short-term pressure
Ki Young Ju posted on social media X that the Bit market growth may continue to slow down until the sentiment in the U.S. market improves:
#Bit market will likely remain slow until sentiment in the U.S. improves.
There's no significant on-chain activity, and key indicators are neutral, suggesting the Bull cycle is still intact. Fundamentals remain strong, with more mining rigs coming online.
If the cycle ends… https://t.co/fSWl26d0gx pic.twitter.com/byWdweZhSQ
— Ki Young Ju (@ki_young_ju) March 4, 2025
As the U.S. is a major source of Bit demand, the change in its market sentiment is crucial to the price trend.
(U.S. economic outlook clouded: Q1 GDP forecast revised down to -2.8%, recession concerns arise)
As he mentioned a few days ago: "Whales on Coinbase have been driving this Bit rally."
According to CryptoQuant's earlier analysis, the daily premium on the Coinbase exchange has dropped to a two-year low, indicating a weakening interest from U.S. institutional investors. This contrasts sharply with the bullish sentiment in the market at the end of last year, when U.S. investors drove Bit prices to new highs.
However, he added: "Although market sentiment is low, the Bull cycle has not yet ended."
On-Chain data analysis: Bull market fundamentals are stable
Despite the short-term market slump, Ki Young Ju emphasized that there has been no drastic change in Bit on-chain activity, and the core indicators remain stable:
On-chain activity has not seen significant changes, and key indicators remain neutral, indicating that the Bull market is still ongoing.
Furthermore, with the continued expansion of the mining industry, Ki Young Ju is also confident about the future of Bit after the increase in computing power: "The fundamentals remain strong, with more mining rigs coming online."
No one wants to see the Bull market end now, including Trump
Ki Young Ju further warned that if the Bull market ends now, it would have an adverse impact on the major market participants:
If the Bull market ends here, no one wants to see this result, whether it's the whales, mining companies, traditional financial institutions, or even the current U.S. President Trump.
ABMedia's report a few weeks ago revealed that large whales holding over 10,000 SOL have significantly reduced their positions in the past two months and reallocated to relatively stable assets like Bit.
Furthermore, he also stated that the market cares less about retail investors: "The market doesn't care about retail."
The author believes that Trump has been advocating for the establishment of a "crypto strategic reserve" including Bit since before taking office, and if the Bull market ends prematurely, it may also affect the implementation and economic benefits of related policies, and invite criticism from the public or businesses.
The market is in a transitional period, key catalysts are still to be observed
Ki Young Ju's analysis highlights the delicate situation of the Bit market: "U.S. market sentiment is low, on-chain activity is relatively flat, but the Bull market fundamentals remain stable," and he expresses a bullish long-term stance on the market.
In the future, the recovery of the US market sentiment and the realization of the crypto strategic reserve may become the key catalysts for driving the next wave of Bitcoin's rise. In the current transitional market full of uncertainty, the fundamental approach may be to protect the funds in hand and avoid reckless operations.
Risk Warning
Cryptocurrency investment is highly risky, and its price may fluctuate violently, and you may lose all your principal. Please carefully evaluate the risks.
