Ki Young Ju: The Bear Market Disappeared Because Saylor Didn't Sell

Bitcoin is currently trading at around $113,800. However, the outlook for altcoins was not bright today. Global uncertainties, increasing risks, and Trump's political fluctuations are dampening investors' risk appetite. In the last 24 hours, BTC dropped to as low as $112,650.

So, what is the latest assessment of the famous on-chain analyst Ki Young Ju regarding these developments?

In the past, Ki Young Ju argued that the bear market had begun based on many indicators, but later he backtracked on this view and issued an apology last month. Why? Because new market dynamics, especially ETF approvals and institutional crypto treasury initiatives, have weakened the validity of conventional metrics. This means that while large whales are selling, bull runs can also occur in the markets.

Ki Young Ju summarizes this situation as follows:

"Bitcoin whales realized their profits, but bear markets were canceled because Michael Saylor didn't have a 'sell button.'"

In fact, many institutions are following a similar strategy under Saylor's leadership; instead of selling, they are continuously buying and increasing their reserves. This situation creates a sustainable accumulation cycle that supports the upward movement of Bitcoin prices.

A New Phase in the Bitcoin Cycle

Compared to past cycles, we are at a different stage today. The crypto market has now moved beyond traditional patterns. We are now in a period that consists of longer and different phases. This new process, which started with ETF approvals and corporate treasuries, presents itself as a unique period that has begun and continues.

DaanCrypto analyst made the following statements regarding this new cycle:

"This cycle has been extremely stable. It has been this way thanks to the maturing market and Saylor's regular contributions with ETFs and corporate treasuries."

2-3 years ago, my price prediction for this cycle was between $120,000 and $150,000. We are currently approaching the lower limit of $120,000, which is a very positive development. Back then, Bitcoin was between $15,000 and $20,000, so don't judge me as a bear.

No one can know exactly what will happen in the future. However, I will maintain my optimism until the long-term trend changes or a significant momentum occurs when the market overheats. In the final stages of this cycle, the market can make quite crazy movements.

For example, in 2017, people thought $10,000 was the peak; but once this level was surpassed, it took only 6 days to reach $20,000. Back then, the market was small, and movements were fast. This experience showed us that when you reach the market peak, there is no limit.

Therefore, I believe in gradually reducing positions during an uptrend and increasing them during a downtrend. It's impossible to predict the peak or the bottom accurately, but with this strategy, you can keep emotions in check and achieve a solid average price.