The cryptocurrency market faces a prolonged downturn as CryptoQuant CEO Ki Young Ju warns that the Bitcoin bear market could extend until early 2027. In a detailed analysis shared on X, Ju highlighted that when profit-taking cascades begin, Bitcoin investors typically see a decline lasting around 18 months. Using the PnL Index, Ju identified October 2025 as the turning point when the current bearish trend commenced, placing a potential bottom in early 2027 if the historical pattern holds.
Ju emphasized that the market trend only reverses when unrealized profits begin to rise while realized profits fall simultaneously. Currently, that signal is absent, reinforcing the likelihood of continued downward pressure. Bitcoin’s price stood at $73,191 according to CoinGecko, down 5.36% over the past week. Key resistance sits at $74,200–$74,500 as highlighted by CoinGlass whale order book data, while support is clustered at $73,200 and $72,300.
Analyst Michaël van de Poppe attributed part of the weakness to geopolitical uncertainty between the US and Iran. He noted that a potential agreement could alleviate fears and fuel a summer rally, but for now, Bitcoin must reclaim $80,000 to shift liquidity back. Trader KillaXBT observed a bearish structure below $79,000 and holds a swing short from $77,800. He warns that failure to reclaim $74,200 could lead to a retest of the May low near $70,500.
The broader crypto market, often correlated with Bitcoin’s performance, may remain suppressed until the on-chain reversal signals materialize. Ju’s forecast adds to the cautious sentiment, urging investors to watch for the critical PnL shift before expecting a sustained recovery.
