#BullRunBonanza «I said that the bitcoin bull run was over, but I was wrong»

The businessman and market analyst, Ki Young Ju, explains why he reached a conclusion that he now considers incorrect.

Ki Young Ju, the CEO and founder of the firm CryptoQuant, stated on April 5 that "the bitcoin (BTC) bull cycle has ended."

As reported by CriptoNoticias, at that time Ju explained that his assertion was based on on-chain data, particularly on realized capitalization, an indicator that estimates the real capital that has entered the market based on the behavior of wallets.

This indicator allows one to calculate the average acquisition cost and, by multiplying it by the amount of bitcoin in the hands of investors, a more accurate measure of the money that has effectively entered the market is obtained.

However, Ju has since changed his mind and in a new post on his personal X account stated: "I said that the bull cycle was over, but I was wrong. The selling pressure of BTC is decreasing and massive inflows are occurring through exchange-traded funds (ETFs)."

Back then, in April, the price of BTC was $82,000 and the market was experiencing moments of extreme tension due to the economic turmoil caused by the reciprocal tariffs announced by U.S. President Donald Trump.

On April 2, the president imposed taxes on products coming from several countries, including China, Canada, the European Union (EU), and all of Latin America. A month later, the situation is different and the Trump administration announced a trade agreement with the Asian giant and the United Kingdom, which brought relief to financial markets and, as a result, appetite for risk returned.