According to online reports, according to Cryptoquant CEO Ki Young Ju, the Bitcoin bull market cycle has ended. By analyzing the Realized Cap in the data on the chain, it is pointed out that there is a typical bear market signal in the market: although funds continue to flow into the market, prices have not increased accordingly. Ki Young Ju explained that when small amounts of money can push prices up, it means that you are in a bull market; when large amounts of money cannot push prices up, it means that a bear market is coming. He said that although selling pressure may ease at any time, based on historical experience, a true market reversal usually takes at least six months, and the possibility of a rebound in the short term is low.