CQ CEO Believes Bitcoin Bull Run Isn't Over, Predicts Significant Impact from Possible $100K Breakout

CryptoQuant CEO, Ki Young Ju, after initially suggesting that Bitcoin's bull cycle had peaked, now concedes he was perhaps early in his prediction. Ju maintains cautious optimism, stating the cryptocurrency still fluctuates within a certain range. However, he admitted that he would need to rethink his position if Bitcoin decisively broke above $100,000.

If the currency hits a new all-time high before the final quarter of the year, Ju stated he might abandon the cyclical theory altogether. Bitcoin's recent ascend above $90,000 has been linked to strategic whale accumulation on major exchanges like Binance and Coinbase.

Bitcoin's price resilience has been attributed to a shift in ownership as institutional investors and corporate giants absorbed supply that previously rattled retail-dominated markets.