CryptoQuant founder: This Bitcoin cycle is expected to see a 3 to 5x rally; signals of market overheating should focus more on on-chain behavior
On October 3, according to an analysis by Ki Young Ju, the founder of blockchain data analytics platform CryptoQuant, the Bitcoin bull market has already started and is currently in the early stage of a new cycle. Ki Young Ju said that the market has seen significant structural changes: traditional financial channels such as ETFs have become the main source of liquidity for this cycle. In addition, as long-term holders stop selling and new capital continues to flow in, Bitcoin successfully reclaimed the key yearly moving average level of $83,000 by the end of September.
Ki Young Ju further noted that, due to the expansion of market size and increased institutional participation, volatility in this cycle will be lower. He expects Bitcoin to achieve gains of 3 to 5 times, rather than the explosive more-than-10x growth seen in previous cycles
#btc #eth
On October 3, according to an analysis by Ki Young Ju, the founder of blockchain data analytics platform CryptoQuant, the Bitcoin bull market has already started and is currently in the early stage of a new cycle. Ki Young Ju said that the market has seen significant structural changes: traditional financial channels such as ETFs have become the main source of liquidity for this cycle. In addition, as long-term holders stop selling and new capital continues to flow in, Bitcoin successfully reclaimed the key yearly moving average level of $83,000 by the end of September.
Ki Young Ju further noted that, due to the expansion of market size and increased institutional participation, volatility in this cycle will be lower. He expects Bitcoin to achieve gains of 3 to 5 times, rather than the explosive more-than-10x growth seen in previous cycles
#btc #eth