What Is the Latest Situation Regarding Bitcoin: Bear or Bull? "The Bull Has Ended, According to the CEO of CryptoQuant"

The CEO of CryptoQuant, Ki Young Ju, who previously argued that the bullish cycle of Bitcoin (BTC) had ended, has admitted he was wrong in his prediction about BTC. In a lengthy post from her X account, Ki Young Ju admitted that her previous prediction about Bitcoin was wrong. The CEO of CryptoQuant has retracted his previous bearish outlook on Bitcoin, stating that the large influx of capital through ETFs has changed the market trend. "I said two months ago that the bullish market had ended, but that prediction was wrong. Selling pressure on Bitcoin is easing and large capital is flowing into the market through ETFs." The famous CEO stated that the market is still much more complex and he still sees the market stagnant, caught between bullish and bearish signals and slow to absorb new liquidity. He noted that the current market has become more diverse compared to previous markets, not only including old whales, miners, and retail investors but also ETFs, strategies, institutions, and government agencies. Ju said that the traditional profit cycle driven by whale sell-offs has come to an end, replaced by a cycle driven by institutions and ETFs. Ju emphasized that at this time, new liquidity from institutions and ETFs could offset even large sell-offs from whales. Saying that it is still too early to say anything clearly, the CEO of CryptoQuant stated that Bitcoin and the market are not clearly bullish or bearish. Although the price trend is ultimately bullish, he believes there could be profit-taking after the rise and a pullback may occur. "To be honest, I still think the market is in a recession phase as it absorbs new liquidity. Most indicators are hanging in the balance. Currently, there is no clear feeling of a bullish or bearish market. Certainly, the recent price action is extremely optimistic, but I'm talking about the profit-taking cycle."