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As fluctuations in the Bitcoin 
$104,303 market continue, significant developments are capturing the attention of market players. While short-term expectations suggest a decline, the inflow of stable assets and institutional investments foster long-term optimism. Statements made by the CEO of CryptoQuant have influenced market sentiment, while technical analyses present varied signals. Assessing numerous factors is crucial for forming a clear perspective on Bitcoin’s price direction.
CryptoQuant CEO’s Take on Bitcoin
Ki Young Ju, CEO of CryptoQuant, posits that the bullish market for Bitcoin has ended, predicting price movements will either decline or remain stable over the next six to twelve months. His viewpoint is supported by on-chain data indicating a decrease in liquidity.
According to Young Ju, new investors are creating pressure in the market by selling at low prices. These sales may hinder Bitcoin from replicating its previous rapid increases. While this assessment paints a negative short-term picture, various signals in the market also draw attention.
Stablecoin Flows and Institutional Investments
Despite the volatility in the Bitcoin market, the inflow of stable assets continues steadily. According to data shared by Matrixport, the ongoing entry of stablecoins such as Tether (USDT) and Circle (USDC) into the market provides indirect liquidity for Bitcoin, refreshing long-term expectations.
Institutional interest in Bitcoin remains strong. The Japan-based company Metaplanet made a purchase of 150 Bitcoins to expand its portfolio. Similarly, other institutional players in the region are showing a tendency to increase their Bitcoin holdings. Continued institutional demand could create positive long-term effects on the market.
On the technical analysis side, Bitcoin is observed to be moving within a correction channel. Positive signals are evident on daily charts. Analysts suggest that a new momentum in price movements could aid in Bitcoin’s recovery. However, investors must remain cautious of short-term volatility risks.
