Ki Young Ju, the CEO of CryptoQuant, said that he was mistaken to declare the Bitcoin bull cycle over after it reached $100,000.
According to him, the market is currently going through a transitional phase as a result of growing institutional inflows and less selling pressure.
Ju’s turnaround reflects shifting market dynamics in the cryptocurrency space, where robust ETF activity and rising demand point to ongoing bullish momentum rather than a finished cycle.
At the press time, the OG-crypto is trading at $103,114.37, up 3.87% as compared to the same time yesterday.
CryptoQuant CEO Reverses Call: Bitcoin Bull Cycle Still On
In an X post, Ki Young Ju said, “Two months ago, I said the bull cycle was over, but I was wrong. Bitcoin selling pressure is easing, and massive inflows are coming through ETFs.”
He adds, “In the past, the Bitcoin market was pretty simple. The main players were old whales, miners, and new retail investors, basically passing the bag to each other. When retail liquidity dried up and old whales started cashing out, it was relatively easy to predict the cycle peak.”
Ki Young Ju compared the previous Bitcoin market to a game of musical chairs—everyone rushed to cash out simultaneously, and those who didn’t were left holding their assets.
However, the market has since evolved, becoming more diverse with participation from ETFs, MicroStrategy (MSTR), institutional investors, and even government agencies.
In earlier cycles, profit-taking by large holders often triggered a domino effect of sell-offs, causing sharp price declines.
Also Read: CryptoQuant CEO: “Bitcoin’s Slow Market Likely to Persist Until U.S. Sentiment Shifts.”
Ki Young Ju: Bitcoin Cycle Theory Obsolete Amid TradFi Integration
Ki Young Ju further said, “It feels like it’s time to throw out that cycle theory. New liquidity sources and volume are becoming more uncertain, signaling a transition as the Bitcoin market merges with TradFi.”
“Now, instead of worrying about old whales selling, it’s more important to focus on how much new liquidity is coming from institutions and ETFs since this new influx can outweigh even strong whale sell-offs.”
Ki Young Ju admits that while the Bitcoin market is absorbing new liquidity, it still feels sluggish. He notes that most indicators are on the borderline, making it difficult to clearly define the market as either bullish or bearish at the moment.
Despite the recent price surge, Ju is specifically referring to the profit-taking cycle, not the short-term price action. He acknowledges that his earlier prediction about the end of the bull cycle was incorrect, but stresses that on-chain data remains valuable.
Ju recognizes that different analysts may interpret the data differently, and apologizes for the misjudgment. He commits to improving his future analyses and providing more accurate insights moving forward.