CryptoQuant's CEO Ki Young Ju admitted that his previous prediction that the Bitcoin bull market had ended was incorrect. He publicly apologized on X and pointed out that due to the inflow of institutional funds from ETFs and MicroStrategy, the market structure has undergone significant changes. He shared the 'Signal 365 MA' chart, comparing the Bitcoin price with the 365-day moving average, showing that traditional cycle models are no longer effective. The market is currently in a state of 'not up, not down', with unclear trends, requiring new analytical methods.