CryptoQuant CEO Signals Bitcoin Bear Market End
Bitcoin (BTC)
Editor:
Eugene Serbin
newsbitcoin.cash reports that CryptoQuant CEO Ki Young Ju has declared the Bitcoin bear market is over. He bases this conclusion on a Bitcoin profitability metric that mirrors the signal seen in early 2023. This specific pattern appeared when Bitcoin was deeply underwater following the Terra-Luna and FTX collapses.
The 2023 reversal preceded a recovery from roughly $16,000 to new all-time highs. The current signal indicates that aggregate holder losses are reversing. This suggests the painful capitulation phase has exhausted itself.
Long-term holders have stopped selling coins at a loss to exchanges. The structural reset implies the market is entering an accumulation phase. Ju’s assessment carries weight because it relies on rigorous on-chain data rather than derivative positioning. However, the metric alone cannot guarantee price direction without broader macro support.
How the market reacted
Whalio's own Binance spot order flow for BTC, measured when this story was written up on 28 August 2026. Not the outlet's figures.
BTC is trading at $80,249.58 with a 24-hour buy ratio of 45.2%. Short-term pressure shows 41.4% buying in the last hour and 47.7% over four hours. Volume delta is negative across all timeframes, totaling -$123,102,218 over 24 hours. This indicates that sellers are currently dominating the flow. A negative volume delta means more volume is being sold than bought. The buy ratio shows the percentage of trades executed by buyers. Current short-term buying is weaker than the daily average.
The latest daily buy ratio of 46.7% sits at the 18th percentile of the last 322 days, against a median of 49.2% - weaker buying than most days.
Twenty-four hours later
What BTC did over the 24 hours after the story broke. The market moves for its own reasons; this is what happened, not what the story caused.
Was that an ordinary day?
The same Binance spot measurements for BTC, averaged over the days leading up to the story.
The 24-hour buy ratio of 45.2% is below the seven-day average of 51.1%. This represents a drop of 5.8 percentage points from the weekly norm. Volume is also subdued, trading at 0.65x the average level. Net buying occurred on only 5 of the past 7 days. This suggests today is an unusual day with weaker buyer conviction than usual.