CryptoQuant CEO Ki Young Ju Says Bitcoin Bear Cycle Could Run Into Early 2027

Bitcoin's market cap has slid to about $1.46 trillion, leaving it behind gold and several large tech names in global asset rankings. Ki Young Ju says an on-chain profitability model suggests the bearish phase that began in Oct 2025 could persist for roughly 18 months, potentially extending into early 2027. Bitcoin was around $73,289 at the time of the report, while derivatives open interest was near $55 billion and 24-hour liquidations were close to $224 million.