CryptoQuant CEO Ju Ki-young has issued a warning regarding Bitcoin's on-chain indicators, which he describes as predominantly bearish. Key metrics such as exchange flows, miner activity, and long-term holder behavior are showing signs of potential market weakness. Ju suggests that these indicators could signal a broader bear market, particularly if macroeconomic liquidity conditions tighten. He advises closely monitoring these on-chain signals in conjunction with central bank policies to anticipate possible market shifts.