CryptoQuant Founder Warns Bitcoin May Have Peaked as Price Tests 81k: Will BTC Go Lower?

TLDR:

• Bitcoin trades near 82k as market eyes support levels between the mid and high 70k region.
• BTC shows a 10.42 percent daily drop and a 15.41 percent seven day decline on CoinGecko.
• Cycle comments from Ki Young Ju frame current price action as part of a broader structural reset.
• Traders watch the 88k reclaim as a key signal after BTC nearly touched 81k earlier today.

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Bitcoin faced renewed pressure after nearly touching 81,000 as fresh cycle comments reshaped market expectations. At press time, price data from CoinGecko showed BTC trading at 82,176.73 after a sharp daily drop. 

Traders monitored the next support levels while broader sentiment weakened across the crypto market. The shift created uncertainty around short-term trading plans despite long-term confidence signals.

Bitcoin Price Tests Key Levels as Analysts Map Out Near-Term Risk

Bitcoin hovered near recent lows as several market trackers flagged growing downside pressure. Ted Pillows noted that BTC failed to reclaim 88,000, which placed the April zone back in view. 

The price drop followed a volatile week with BTC slipping 10.42 percent in 24 hours. The decline also pushed the seven day loss to 15.41 percent, according to CoinGecko data.

Market structure became a primary focus as Daan Crypto Trades outlined how BTC approached its next support area. 

He marked the current zone as the last major level before the mid 70k region. His approach centered on watching for strength or a cleaner bounce before taking any long exposure. He described the recent strategy as doing less, which he said worked better during the week.

Momentum concerns surfaced across trading desks as liquidity continued to tighten. Traders who tracked prior cycles compared the current setup to earlier stress periods. 

Volatility also increased as high volume moved through futures markets. Sentiment shifted quickly after BTC failed to extend its earlier move toward the 88,000 region.

Cycle Signals Shift as CryptoQuant Founder Sees Technical Peak Forming

Cycle metrics drew new attention after CryptoQuant founder Ki Young Ju pointed to signals from earlier this year. He mentioned that BTC touched around 100k during that stretch, which he viewed as a technical cycle top. 

His comment framed the present zone as a long term accumulation range for spot holders. He also said classic cycle theory pointed to a revisit of the realized price near 56k.

Moreover, he noted that the 56k revisit looked unlikely due to large players keeping supply locked. He pointed to holders like MSTR who remained offloading resistant, reducing available market supply. 

He also said macro cycles may support liquidity injections until mid next year. That backdrop could influence sentiment and soften broader downside pressure.

While he said he no longer used leverage, his notes focused on directional conviction rather than timing entries. His remarks circulated widely as traders compared them with short term signals from Ted Pillows and Daan Crypto Trades. 

The combination placed attention on levels between the mid and high 70k region. BTC continued to trade within that zone during the latest session.

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