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CryptoQuant CEO: The selling pressure in the Bitcoin market is easing, and there are no obvious signals of a bull run or Bear Market yet.
PANews, May 9 news, CryptoQuant founder and CEO Ki Young Ju stated that although he predicted the end of the Bitcoin bull run cycle two months ago, this judgment now seems to be incorrect. He pointed out that the selling pressure in the Bitcoin market is easing, while the substantial inflow of ETF and institutional funds is changing the market landscape. He mentioned that in the past, the Bitcoin market was mainly dominated by established whales, miners, and retail investors, making market fluctuations relatively predictable. However, with the addition of ETFs, institutional investors, and government agencies, the influx of new funds has made the market more complex and harder to predict. Past profit cycles were typically triggered by whales cashing out at high points, but now the liquidity from institutions and ETFs may offset the selling impact of whales. Ki Young Ju believes that the market is still absorbing new liquidity and has not yet shown clear signs of a bull run or bear market. He emphasizes that on-chain data remains important, but the analytical perspective may vary from person to person.