Bitcoin Bear Market Unlikely Unless Price Dips Below $94K
CryptoQuant CEO Ki-young Ju said the current market correction does not signal a bear market for Bitcoin unless the Bitcoin price falls below $94,000. Macroeconomic uncertainties—including a 43-day US government shutdown and unclear timing of Fed rate cuts—triggered the recent Bitcoin price drop. On-chain data shows the average acquisition cost for investors over the past six to 12 months is $94,000. Ju highlighted this level as a critical support. Until Bitcoin price decisively breaks below this threshold, the downturn cannot be confirmed as a bear cycle. Traders are advised to monitor the key support level rather than assume a prolonged bearish trend.
Neutral
Ki-young Ju’s analysis suggests the current price drop stems from macro uncertainties rather than a structural shift in market dynamics. Historically, Bitcoin maintained strong support at average purchase cost levels, such as 2018’s $6,000 or 2021’s $30,000. The $94,000 threshold reflects aggregated on-chain positions and marks a decisive line between healthy corrections and genuine bear trends.
As long as Bitcoin price holds this level, selling pressure should remain limited, offering consolidation rather than deeper declines. In the short term, traders may see volatility around this support, but a breakdown below $94,000 could trigger further downside. In the long term, maintaining above this level could reinforce bullish momentum and confidence in Bitcoin’s uptrend.