CryptoQuant CEO Ki Young Ju has publicly admitted he was mistaken in previously declaring the end of the Bitcoin (BTC) bull cycle. Ju, who predicted a bearish or sideways market back in March 2025, issued an apology on social media following Bitcoin’s recent surge above the $100,000 level for the first time since February. This bullish price action occurred shortly after positive macroeconomic developments, including a new US-UK trade deal announcement, sent BTC up more than 3% in 24 hours.
Ju highlighted that the Bitcoin market is undergoing a major transformation, now being shaped by diverse participants such as ETFs, major institutions, and government agencies—not just whales and retail traders. He stated that traditional profit-taking cycles, historically driven by whales cashing out at price peaks, are now being offset by fresh institutional and ETF-driven liquidity. This shift means that large whale sell-offs may no longer trigger rapid downturns if institutional inflows persist.
Despite the strong recent price trend, Ju cautioned that the market remains in a transitional, stagnating phase, with indicators neither clearly bullish nor bearish. He observed new liquidity is still being absorbed gradually, and profit-taking could bring about a short-term pullback. Nonetheless, Ju emphasized the importance of on-chain data in monitoring these evolving market structures. Overall, the CEO's statements reflect a changing landscape where institutional capital may help anchor Bitcoin’s price dynamics more robustly than in previous cycles.