PANews reported on March 4 that CryptoQuant CEO Ki Young Ju said that the Bitcoin market may continue to remain sluggish before the US market sentiment improves. Currently, on-chain activity is not significant and key indicators are neutral, indicating that the bull market cycle is still continuing. At the same time, Bitcoin fundamentals remain strong and more mining machines are coming online.

He pointed out that if the bull cycle ends here, it will be an undesirable result for all parties, including old whales, mining companies, traditional financial institutions and even Trump. He also added that the market does not care about the impact on retail investors.