In the Wild West of Web3, where fortunes rise and fall with the volatility of a rollercoaster, Bitcoin continues to ride high as the undisputed king of crypto. Even as whispers of a potential price plunge to $77,000 echo through the digital corridors, one prominent analyst remains unfazed, boldly asserting that the Bitcoin bull market is far from buckling under pressure. According to Ki Young Ju, CEO of CryptoQuant, a titan in blockchain analytics, the current cycle’s upward trajectory can weather a storm as fierce as a 30% drop from its all-time high—and still come out charging.
Picture this: Bitcoin, having danced tantalizingly close to $110,000, takes a tumble to $77,000. For the faint-hearted, it’s a signal to abandon ship. But for Ki, it’s just another chapter in BTC’s storied history of resilience. Drawing from the annals of past cycles, he points to a pattern—dips like these, while jarring, have never spelled doom for Bitcoin’s bullish runs. “I personally think that the bull cycle could continue even with a -30% dip from ATH,” Ki shared in a recent analysis, his words a beacon of calm amid the crypto chaos. A $77,000 floor, he argues, would still tower above the previous cycle’s peak, offering a sturdy launchpad for traders eyeing the next leg up.
The data backs him up. New Bitcoin whales, those deep-pocketed players who’ve recently entered the fray, share a breakeven point eerily close to this $77,000 mark—making it a psychological and technical stronghold should the market take a southward turn. Meanwhile, Binance traders sit comfortably with an aggregate breakeven at $59,000, and miners would only feel the pinch below $57,000. Ki’s take? Falling beneath this miner threshold has historically been the bear market’s calling card—think May 2022 or March 2020. But at $77,000? “We’re still in a bull cycle,” he insists, brushing off any notion of an imminent collapse in 2025.
Elsewhere, CryptoQuant’s analysts are doubling down on the optimism. Contributor Timo Oinonen calls this cycle “unfinished,” hinting at more upside yet to unfold. Despite a month of sideways shuffle and a stubborn refusal to reclaim $100,000, the metrics suggest Bitcoin’s engine is still revving. Investor cost basis data paints a picture of steadfast hodlers and newcomers alike, holding firm in a market that’s yet to exhaust its momentum.
This isn’t blind faith—it’s a calculated bet on Bitcoin’s enduring allure in the Web3 ecosystem. As the decentralized dream continues to captivate institutions and retail enthusiasts alike, the question isn’t whether BTC can survive a dip, but how high it’ll soar once the dust settles. For now, the bull market marches on, its horns sharpened and its gaze fixed on the horizon—$77,000 or not.
