How far is Bitcoin from the cycle peak? Details from Ki Young Ju

CryptoQuant CEO Ki Young Ju has shared important insights into the current market position of Bitcoin (BTC), stating that this cryptocurrency still has room for growth before reaching its cycle peak. While some experts predict the possibility of a downturn, Ju argues that these predictions conflict with on-chain data, indicating a strong market trajectory. On-Chain data confirms the continued market price increase Ju emphasizes that Bitcoin has been in a bullish market for the past two years, supported by significant activity on the blockchain. The weekly influx of about $7 billion into the market highlights the strong trend of Bitcoin. This sustainable momentum signals that the bullish market is far from over, even when the market occasionally undergoes corrections. According to Ju, the continuous flow of money and the market’s recovery potential demonstrate the long-term potential of Bitcoin, making it difficult for the current cycle to end. Corrections may occur, but they should be viewed as part of the overall upward trend. The accumulation of whales and the market impact Large investors, or whales, continue to increase their holdings of Bitcoin, driving the market to rise. Ju notes that although the actions of whales have caused market shocks in the past, these actions have now become a habit. Normalizing the behavior of these whales reflects their confidence in the growth of Bitcoin and supports the ongoing upward trend. Ju rejects the idea that Bitcoin is in a bubble, explaining that for a bubble to form, the market value of an asset must surpass the capital inflow supporting it. The current market capitalization of Bitcoin still aligns with its underlying capital, dispelling concerns of an imminent collapse. The path to the peak of the Bitcoin cycle While some may predict a peak or decline, Ju is confident that Bitcoin has not yet reached its cycle peak. Even in the face of a market correction, Bitcoin is expected to recover quickly. Currently, Bitcoin is trading at $96,387, with a 1.9% decrease in the past 24 hours. DYOR! #Write2Win #Write&Earn $BTC {spot}(BTCUSDT)