The CEO of "CryptoQuant" stated: Bitcoin breaking the $100,000 barrier could reshape the market!
Bitcoin continues to spark controversy over its future path, having recently surpassed $94,000, a movement that has led many analysts to question whether the market is still in a bull cycle or if we are facing a temporary pullback before a potential drop.
"Ki Young Ju", the CEO of the "CryptoQuant" platform, expressed his belief that the current cycle has peaked, but he recently admitted that he may have been hasty in this judgment and assessment, especially given the currency's return to a 10% rise after a similar decline.
In a comment published on April 23 via platform X, "Ju" confirmed that Bitcoin is still moving within a specific price range, noting that breaking the $100,000 level would force him to reconsider the cycle theory he adopts.
He added:
If we reach a new all-time high before the fourth quarter of the year, I would be ready to abandon the cycle theory.
At that point, the market may have entered a new phase that does not rely on traditional cycle patterns.
The recent price momentum is attributed to large purchases by what are known as "whales" on major platforms like Binance and Coinbase, indicating the intervention of major investment institutions to drive the market.
