Bitcoin bear market confirmed? Analysts at odds over whales' BTC exchange moves

Cointelegraph

Published Jun 22, 2021 03:22AM ET

Updated Jun 22, 2021 07:00AM ET

Bitcoin (BTC) is "confirming" a bear market because whales are still sending large amounts of BTC to exchanges.

That's according to Ki Young Ju, CEO of on-chain analytics service CryptoQuant, who on June 21 warned over the "very uncertain" current state of Bitcoin.

Bitcoin whale capitulation index chart. Source: Ki Young Ju/ Twitter
Bitcoin whale inflow ratio vs. BTC/USD chart. Source: CryptoVizArt/ Twitter
Bitcoin Puell Multiple vs. BTC/USD chart. Source: LookIntoBitcoin

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