#BTC NEWS
CryptoQuant CEO Ki Young Ju expects Bitcoin to gain 3–5x during the current bull cycle, rather than repeating the 10x-plus rallies of earlier cycles.
He expects the next Bitcoin bear market to be comparatively milder, arguing that institutional ownership and Bitcoin's larger market size are reducing both upside and downside extremes.
Bitcoin's MVRV ratio has not fallen below 1 this cycle, meaning holders collectively remained above their average on-chain cost basis even during market lows.
Rising realized capitalization, reduced selling from long-term whales and large futures positions established near the bottom are among the signals supporting his outlook.
Ki argues that less extreme boom-and-bust cycles could ultimately make Bitcoin more attractive to long-term capital.
Bitcoin could deliver a 3–5x gain during the current bull market rather than another 10x-plus parabolic rally, according to CryptoQuant CEO Ki Young Ju, who expects the market's increasing maturity to also result in a less severe bear market afterward.
Ki argued that Bitcoin's expanding market capitalization and growing institutional ownership are changing the structure of its traditional boom-and-bust cycles.During earlier cycles, Bitcoin's smaller market and greater dependence on retail speculation allowed incoming capital to generate explosive rallies. The same structure also contributed to drawdowns approaching 80% when sentiment reversed.
Ki believes both extremes are now becoming less pronounced.
CryptoQuant CEO Ki Young Ju expects Bitcoin to gain 3–5x during the current bull cycle, rather than repeating the 10x-plus rallies of earlier cycles.
He expects the next Bitcoin bear market to be comparatively milder, arguing that institutional ownership and Bitcoin's larger market size are reducing both upside and downside extremes.
Bitcoin's MVRV ratio has not fallen below 1 this cycle, meaning holders collectively remained above their average on-chain cost basis even during market lows.
Rising realized capitalization, reduced selling from long-term whales and large futures positions established near the bottom are among the signals supporting his outlook.
Ki argues that less extreme boom-and-bust cycles could ultimately make Bitcoin more attractive to long-term capital.
Bitcoin could deliver a 3–5x gain during the current bull market rather than another 10x-plus parabolic rally, according to CryptoQuant CEO Ki Young Ju, who expects the market's increasing maturity to also result in a less severe bear market afterward.
Ki argued that Bitcoin's expanding market capitalization and growing institutional ownership are changing the structure of its traditional boom-and-bust cycles.During earlier cycles, Bitcoin's smaller market and greater dependence on retail speculation allowed incoming capital to generate explosive rallies. The same structure also contributed to drawdowns approaching 80% when sentiment reversed.
Ki believes both extremes are now becoming less pronounced.
