$XRP In a bold shift from earlier skepticism, CryptoQuant CEO Ki Young Ju has reversed his bearish stance on Bitcoin, stating that the leading cryptocurrency's bull run is far from over — it’s simply evolving into a new market era.

Ju previously expressed doubts when Bitcoin slipped below the $80,000 mark, but he now acknowledges that traditional market dynamics are no longer in play. “In the past,” Ju explained, “cycle tops were easy to identify — whales would sell into dwindling retail demand, and prices would crash like clockwork.” Today, however, the market structure has transformed.

Unlike previous cycles dominated by whales, miners, and retail traders executing predictable rotations, Bitcoin's price movement is now heavily influenced by institutional capital. The rise of spot Bitcoin ETFs, corporate treasuries like MicroStrategy, and the entrance of traditional financial institutions have brought a new level of liquidity and stability to the market.

This shift has made outdated theories about predictable crash cycles less relevant. According to Ju, institutional demand can now absorb much of the selling pressure, even from large BTC holders. “We need to stop treating Bitcoin like the same game of market timing,” he said. “It’s now embedded within the broader financial ecosystem.”

The key metric to watch, Ju argues, is no longer whale activity or miner behavior, but rather the consistency and scale of capital inflows from institutional players. ETF inflows, in particular, may become the dominant force in future bull cycles.

As Bitcoin matures, Ju believes the focus should move toward long-term structural drivers, such as macroeconomic positioning and regulatory clarity — not just speculative trading patterns.

In summary, while the pace and behavior of Bitcoin’s rise may have changed, the bullish trend remains intact. Investors and analysts alike may need to recalibrate their frameworks for#bitcoinbull understanding and predicting market