Ki Young Ju, founder and CEO of blockchain analysis firm CryptoQuant, explained in his latest assessment of the Bitcoin market that whales sold billions of dollars after the price reached the $100,000 level.
CryptoQuant CEO: Selling Pressure Could Reinforce If MicroStrategy and ETF Purchases Slow
Ju stated that earlier in the year, he thought the bull cycle was over, but strong buying demand from Strategy and Bitcoin spot ETFs delayed this process.
According to Ju, if buying pressure from institutional investors weakens, the market is likely to shift back to sellers. The CEO noted that selling pressure is currently still intense, but if macroeconomic conditions remain strong, buying opportunities could arise during pullbacks.
According to CryptoQuant data, while Bitcoin whales have been selling significant amounts of profit recently, institutional demand in particular plays a decisive role in price stability.
Analysts assess that volatility could increase in the short term if capital flows from spot ETFs begin to decline.
Ju emphasized that the current correction periods could present “strategic buying opportunities” for long-term investors, noting that the market may still be in a structural bull cycle, but institutional demand must continue for this to be sustainable.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/cryptoquant-founder-ki-young-ju-draws-attention-to-this-danger-in-bitcoin-here-are-the-details/
