What's the Latest on Bitcoin: Bear or Bull? "CryptoQuant CEO Responds to Those Saying the Bull is Over!"

In previous statements, CryptoQuant CEO Ki Young Ju, who argued that the Bitcoin (BTC) bull cycle has ended, admitted to a BTC prediction error.

Ki Young Ju, who made a long post from account X, admitted that his previous prediction about Bitcoin was wrong.

The CEO of CryptoQuant stated that large-scale capital inflows through ETFs have changed the market trend, retracting his previous bearish prediction for Bitcoin.

"Two months ago, I said the bull market had ended, but that prediction was wrong.

The selling pressure on Bitcoin is decreasing and large-scale capital is flowing into the market through ETFs.

The famous CEO, who noted that the market is still much more complex, stated that he sees the market as still stagnant, caught between bull and bear signals, and slowly absorbing new liquidity.

It was stated that the current market has become more diverse compared to the previous ones, extending beyond old whales, miners, and retail investors to also include ETFs, strategies, institutions, and government agencies.

According to Ju, while traditional profit cycles driven by whale sales at peaks are now a thing of the past, instead, cycles led by institutions and ETFs are being experienced.

Ju emphasized that the new liquidity coming from institutions and ETFs could even offset large whale sales.

The CEO of CryptoQuant, who stated that it is still too early to say anything definitive, said that Bitcoin and the market are neither clearly bullish nor bearish. Although the recent price trend is bullish, he thinks there could be profit-taking after the rise and a possible pullback.

"To be honest, I think the market is still stagnant as it absorbs new liquidity. Most indicators are hanging on the edge. It doesn't currently feel like a clear bull or bear market. Of course, the recent price action is extremely bullish, but I'm talking about the profit-taking cycle."

İki ay önce boğa döngüsünün bittiğini söyledim, ama yanıldım. #Bitcoin satışı baskısı azalıyor ve ETF'ler aracılığıyla büyük miktarda girişler geliyor.

In the past, the Bitcoin market was pretty simple. The main players were old whales, miners, and new retail investors, basically… pic.twitter.com/oN4n6vNc0s

— Ki Young Ju (@ki_young_ju) May 9, 2025