Summary
- "Bitcoin" price has surpassed 100,000 dollars, and it was reported that large investors are engaging in large-scale cashing out.
- Ki Young Ju, CEO of CryptoQuant, predicted that if the ETF inflows that have been supporting the bull market disappear, selling pressure will dominate the market again.
- He explained that if the macroeconomic outlook is positive, now could be a buying opportunity.
The price of Bitcoin (BTC) has surpassed 100,000 dollars, and it was claimed that large investors are cashing out significant amounts of Bitcoin they held.
On the 11th (Korean time), Ki Young Ju, CEO of CryptoQuant, said on X (formerly Twitter), "Bitcoin whales are selling tens of billions of dollars worth of assets after 100,000 dollars."
He added, "I thought the rally had already ended earlier this year, but inflows from strategies and exchange-traded funds (ETF) prevented a bear market," while also forecasting, "If these factors disappear, selling pressure will dominate the market again."
However, Ki Young Ju emphasized that macroeconomic factors could be a variable. He explained, "Selling pressure is still strong now, but if the macroeconomic outlook is positive, now could be a buying opportunity."
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
