Ki Young Ju, CEO of CryptoQuant, admitted his earlier prediction that Bitcoin’s bull cycle had ended was incorrect. In a post on X, he apologized and highlighted how institutional flows from ETFs and MicroStrategy are reshaping the market. He shared the “Signal 365 MA” chart, comparing Bitcoin's price with its 365-day moving average, illustrating the weakening relevance of traditional cycle models. The market is currently in a "neutral" state, lacking clear direction, which calls for new analytical frameworks.