The CEO of the analytical company CryptoQuant, Ki Young Ju, acknowledged that his prediction about the end of the Bitcoin bull cycle, made two months ago, turned out to be incorrect. The expert noted that there is a weakening of selling pressure from major players in the market, indicating a continuation of liquidity.
This is reported by Finway
New Position in the Bitcoin Market
According to Ki Young Ju, the Bitcoin market is currently attracting liquidity, particularly through spot ETFs. In the past, market behavior was more predictable: large participants, such as old whales, miners, and retail investors, actively exchanged assets. Cycles ended when major players took profits, provoking mass sell-offs.
“Today, however, the situation has changed. New participants have entered the market: MicroStrategy, ETFs, institutional funds, and even government entities. This significantly complicates the analysis of market cycles and reduces the role of actions by individual categories of investors.”
Analysis of New Conditions
The expert emphasized that despite the changes in the market, on-chain analytics remains an important tool. He believes that the main indicator now is the volume of new liquidity. It is important not only to observe the actions of whales but also to assess the pace of capital inflow from institutional players.
Ki Young Ju also noted that the sources of new liquidity and trading volumes are becoming increasingly unpredictable, indicating that the Bitcoin market is approaching traditional financial systems. It is worth mentioning that at the end of April 2025, CryptoQuant recorded the largest outflow of Bitcoins from cryptocurrency exchanges since February 2023.