#opinion 🧐 "Two months ago, I stated that the bull cycle was over. I was wrong," — CEO CryptoQuant
✧ Selling pressure on Bitcoin is decreasing, and record liquidity volumes are coming through ETFs.
✧ The crypto market has changed significantly: while whales, miners, and retail investors used to be the main players, now it's institutions, corporations like MicroStrategy, and even governmental entities.
✧ The old cycle model no longer works. Previously, whales would take profits at the peak, triggering a chain sell-off. Today, liquidity comes from multiple sources and becomes less predictable.
✧ The BTC market is merging with traditional finance (TradFi) — this changes the logic of price movement and key influencing factors.
✧ The focus is shifting — it's now more important to track capital inflows from ETFs and institutions than the movements of old whales.
✧ A wrong forecast does not negate the value of on-chain data — the data remains crucial, but analysts may draw different conclusions.
