CryptoQuant CEO: The selling pressure in the bitcoin market is easing, and there are no clear bull or bear market signals yet

Ki Young Ju, founder and CEO of CryptoQuant, said that despite predicting the end of the bitcoin bull cycle two months ago, this judgment is now wrong. He pointed out that the selling pressure in the bitcoin market is easing, while the influx of ETF and institutional funds is changing the market landscape.
He noted that in the past, the bitcoin market was dominated by established whales, miners and retail investors, and the market volatility was easier to predict. But with the addition of ETFs, institutional investors and government entities, the inflow of new funds has made the market more complex and difficult to predict. In the past, the profit cycle was usually triggered by whales cashing out at high points, and now the liquidity of institutions and ETFs may offset the selling effect of whales.
Ki Young Ju believes that the market is still absorbing new liquidity, and there is no clear bull or bear market signal yet. He stressed that on-chain data is still important, but your mileage may vary.