Ki Young Ju, CEO of CryptoQuant, indicated that Bitcoin (BTC) 
$66,546 still has a way to go before reaching its cycle peak. He noted that while some experts predict an impending bear market, these forecasts contradict on-chain data. Ju emphasized that Bitcoin is advancing in a bull market, highlighting a strong upward trend during this period.
Bull Market and On-Chain Data
Ju stated that Bitcoin has been in a bull market for the past two years. On-chain data reveals that the market is receiving $7 billion weekly. This situation illustrates that Bitcoin is in a strong trend and that the bull market continues.
He asserted that Bitcoin’s potential will persist with this robust inflow and that the market is set to continue in this manner for an extended period. Furthermore, although there may be market corrections, he stressed that Bitcoin is not near the end of its current cycle.
Impact of Whale Accumulation and Market Conditions
In the cryptocurrency market, large investors, known as whales, are increasingly accumulating Bitcoin. Ju mentioned that whale accumulation has become routine. While movements by whales once caused significant shock, they have now become expected and ordinary information. He noted that these accumulations support the bull market and stated that Bitcoin is not currently in a “bubble.” Ju explained that the bubble theory applies when a market price exceeds the capital entering it, but Bitcoin’s market value has not yet reached a bubble-generating level.
Ju believes that Bitcoin is not close to its cycle peak and that even if a downturn occurs, it will recover quickly. Investors in the cryptocurrency market can make more informed decisions based on this on-chain data and whale accumulation. Currently, Bitcoin is trading at $96,387 and has decreased by 1.9% in the last 24 hours.
