EddieJayonCrypto
10 May 25
CryptoQuant CEO Ki Young Ju has revised his previous bearish prediction on Bitcoin's bull cycle, noting a shift in market dynamics due to significant inflows from institutional investors and exchange-traded funds (ETFs). Historically, Bitcoin price cycles were driven by early whales, miners, and ret...
CryptoQuant CEO Ki Young Ju has revised his earlier bearish outlook on Bitcoin’s bull cycle, highlighting a significant evolution in market dynamics driven by institutional inflows and exchange-traded funds (ETFs) demand. Unlike previous cycles dominated by early whales, miners, and retail traders that sparked wild boom-and-bust patterns, the current market now includes longer-term institutional players and government agencies. These new participants absorb sell pressure more efficiently, resulting in reduced volatility and a more stable price environment.
Ju notes that the traditional Bitcoin cycle theory—comparable to “a game of Musical Chairs” where late sellers get stuck with depreciated assets—is becoming outdated. The involvement of institutions with longer investment horizons and specific mandates has introduced a steadier demand, smoothing out historic price swings. While recent bullish movements appear sluggish compared to past peaks, on-chain indicators remain mostly neutral, suggesting a more mature market characterized by gradual capital rotation and less destructive profit-taking.
Steady ETF inflows play a key role in supporting the price, allowing Bitcoin to absorb old supply without triggering panic selling. Ju’s long-term charts illustrate a flattening of profit-taking signals at cycle tops, reflecting slower adjustments rather than sharp reversals. This evolving landscape underscores a transition toward a Bitcoin market that is less volatile and more resilient to traditional sell-offs, fundamentally altering how investors and analysts should interpret price cycles going forward.