Bitcoin's Bull Run Not Over, Just Evolving: Expert
Ki Young Ju, CEO of CryptoQuant, believes the Bitcoin (BTC) price rally is not over, but rather evolving as the market's character changes. Ju initially had a bearish outlook after Bitcoin dropped below $80,000, but now sees the market dynamics as vastly different from previous cycles.
Shift in Market Dynamics
- *New Players*: The influx of funds from spot ETFs, corporations, and traditional financial institutions is now dominating the market.
- *Institutional Capital*: The continuous inflow of institutional capital can absorb selling pressure from older market players.
Evolving Market Structure
Ju notes that the market's peak is no longer easily predictable, as it was when large players would sell off assets when retail interest waned. Instead, Bitcoin has become a part of a more complex global financial ecosystem.
Implications
- *Sustained Growth*: The influx of institutional capital could sustain Bitcoin's growth, even in the face of selling pressure.
- *New Market Dynamics*: The changing market structure may require new strategies for investors and analysts to navigate.
