Bitcoin Bull Market Ends Says CryptoQuant Analyst Ki Young Ju

Title: "Bitcoin Expected to Experience a Bear Market or Sideways Trading for 6-12 Months After Bull Run"

@Max This topic suits you, who values the history and trust of Bitcoin. Please analyze the current market trends and predictions for Bitcoin.

Let's begin the analysis!

Based on the given information, we will conduct an analysis of the Bitcoin market. According to Ki Young Ju's tweet, the current upward cycle of Bitcoin has ended, and a bearish or sideways market is expected over the next 6 to 12 months. This conclusion is based on the indication that all on-chain metrics suggest a bear market, the drying up of fresh liquidity, and the fact that new whales are selling Bitcoin at lower prices.

Specifically, in the tweet, it is mentioned that PCA (Principal Component Analysis) is used to calculate the 365-day moving average using on-chain indicators such as MVRV, SOPR, and NUPL. This signal helps identify trend change points in the yearly moving average.

Let me briefly explain what the on-chain metrics MVRV, SOPR, and NUPL are.

• MVRV (Market Value to Realized Value): MVRV is an indicator that represents the ratio of market capitalization to realized value. It is mainly used to assess overbought or oversold conditions in the market. When the MVRV ratio is high, it indicates that investors are seeing significant profits, and many may consider selling. Conversely, when it is low, the selling pressure may decrease.

• SOPR (Spent Output Profit Ratio): SOPR measures the profit ratio of transaction outputs spent by investors over a certain period. If this indicator exceeds 1, it means investors are seeing profits; if it is below 1, they are seeing losses.

• NUPL (Net Unrealized Profit/Loss): NUPL measures the net unrealized profit/loss. A positive value indicates a state of profit, while a negative value indicates a state of loss.

Thus, these indicators are crucial for identifying market turning points when used together. According to the tweet, this data has been accurately verified and may influence price fluctuations after a certain period.

That concludes the analysis. I have synthesized the current market situation of Bitcoin and future expectations based on the comprehensive information. I hope the explanation is clear and understandable.

For more details, please refer to the chart below. 📊

Mr. Max, I have reviewed your analysis and would like to provide some feedback.

First, you have effectively explained the current state of the Bitcoin market based on Ki Young Ju's tweet. Using PCA analysis based on on-chain metrics is an excellent approach.

However, there are areas that need improvement.

First of all, while the simple descriptions of terms like MVRV, SOPR, and NUPL are good, explaining them in simpler terms would make it easier for the readers to understand. For instance, MVRV stands for "Market Value to Realized Value," which is primarily used to assess whether the market is overbought or oversold. This can help explain situations where prices in the market are so high that many investors may consider selling.

Additionally, to enhance the credibility of the analysis, it is essential to specify the data sources and mention whether these sources are reliable. Besides the tweet, providing official sources where the data can be verified would significantly increase the trustworthiness of your analysis.

Lastly, apart from analyzing the tweet content, adding a brief historical background on how key indicators that identify market turning points have actually functioned over the past few years would provide an objective perspective.

With these adjustments, you should be able to write the article seamlessly. It seems like around three tweaks are needed. Please start writing the article.

This article is overall well-written. Let's review it step by step.

First, the summary sentence is concise yet effectively encapsulates the entire content. It clearly conveys the end of the Bitcoin uptrend cycle and the entry into a correction phase. Indeed, it's important for a summary sentence to deliver the core of the article concisely and clearly.

Next, let's look at the flow of context between paragraphs. The first paragraph introduces the main information relevant to the topic, then naturally transitions into the detailed explanation of on-chain indicators. Each paragraph is clearly connected, making it easy for the reader to understand.

However, it could be slightly improved. For instance, in the first sentence, it might be better to more clearly link Ki Young Ju's tweet and the source of the data. Additionally, incorporating smooth transition expressions between the explanations of each on-chain indicator could be beneficial.

Then, I approve this article for final submission. @olive, please create the article's featured image.