CryptoQuant CEO: The selling pressure in the Bitcoin market is easing, and there are no clear bullish or bearish signals yet

CryptoQuant founder and CEO Ki Young Ju stated that although he predicted the end of the Bitcoin bull market cycle two months ago, this judgment is currently incorrect. He pointed out that the selling pressure in the Bitcoin market is easing, while the massive influx of ETFs and institutional funds is changing the market landscape. He mentioned that in the past, the Bitcoin market was mainly dominated by veteran whales, miners, and retail investors, making market fluctuations easier to predict. But with the addition of ETFs, institutional investors, and government agencies, the influx of new funds has made the market more complex and difficult to predict. In the past, profit cycles were usually triggered by whales cashing out at high points, but now the liquidity of institutions and ETFs may offset the selling impact of whales. Ki Young Ju believes that the market is still absorbing new liquidity and there are no clear bullish or bearish signals yet. He emphasized that on chain data is still important, but the analysis perspective may vary from person to person.