Ki Young Ju Clarifies Statement on End of Bull Cycle... "It Will Take Time to Reach New All-Time High"

Ki Young Ju, CEO of CryptoQuant, has clarified his analysis from the previous day. Earlier, Ju had stated that "Bitcoin's bull cycle has ended" and predicted that it would move sideways or weaken over the next 6-12 months.

On the 19th (local time), CEO Ki Young Ju stated through X, "I would like to address some of the counterarguments (raised after that statement)" and clarified that "my previous statement did not mean that Bitcoin would crash by 70%." He continued, "It means that it could take at least 6-12 months for Bitcoin to reach a new all-time high (ATH)," adding that "the possibility of a major crash is low as Bitcoin's liquidity channels have increased."

Regarding criticism about whether his statement adequately considered the macroeconomic environment, he responded, "I believe on-chain activity precedes market sentiment." Ju said, "If the macroeconomic environment had actually improved, new liquidity would have already flowed into the market," and added, "When uncertainty is resolved and interest rates are cut, there is a high possibility that new liquidity will flow in as strong buying pressure." However, he added that it is impossible to predict when the current macroeconomic uncertainty will be resolved.

He also addressed his position on Bitcoin short selling. This was in response to criticism from the community asking why he doesn't short Bitcoin if his analysis is correct. CEO Ju explained, "Bitcoin is more likely to move sideways within a wide range," adding that "deeper technical analysis is needed to capture short-selling opportunities."