Bitcoin Price Above $100,000: CryptoQuant CEO Says It’s Time To Throw Out ‘Cycle Theory’

Ki Young Ju, CryptoQuant's CEO, revised his bearish Bitcoin prediction after the price surged past $100,000. This unexpected price increase contradicts recent bearish market sentiment. Ju attributes the shift to the market's evolving structure, no longer solely reliant on older whales, miners, and retail investors. The influx of institutional investment, facilitated by Spot Bitcoin ETFs, significantly increases market liquidity. This new liquidity cushions the impact of large sell-offs, rendering traditional cycle indicators less reliable. Consequently, Ju suggests abandoning the old cycle theory due to the unpredictable nature of current liquidity sources. His focus has shifted to institutional and ETF inflows, which can overshadow even substantial whale selling. Despite the price increase and widespread profitability, Ju notes that clear bullish or bearish signals remain absent. The market is still absorbing new liquidity, with indicators hovering near neutral. Bitcoin's price continues its upward trend, exceeding $100,000, and a vast majority of Bitcoin holders are currently profitable.