PANews reported on March 4th that CryptoQuant CEO Ki Young Ju stated that the Bitcoin market may continue to be sluggish until sentiment in the U.S. market improves. Currently, on-chain activity is not significant and key indicators are neutral, indicating that the bull market cycle is still ongoing. At the same time, Bitcoin's fundamentals remain strong with more miners coming online.
He pointed out that if the bull market cycle ends here, it would be an undesirable outcome for all parties involved including old whales, mining companies, traditional financial institutions and even Trump. He also added that the market does not care about its impact on retail investors.