Bitcoin Bull Market Revised: Institutional Investments Ease Selling Pressure

Ki Young Ju, the founder of CryptoQuant, has revised his earlier assessment of the Bitcoin bull market. Two months ago, he predicted that the market had reached its peak. However, recent on-chain data suggests that selling pressure on Bitcoin is easing, driven by a surge in institutional investments, particularly through exchange-traded funds (ETFs).

Traditionally, the Bitcoin market was influenced by whales, miners, and retail investors, making it easier to identify market tops. The entry of institutional players, such as MicroStrategy and various government entities, has changed this dynamic. Ju noted that the traditional indicator of "whale sales defining market tops" is becoming less relevant.

Ju advised market participants to pay more attention to the inflow of institutional capital rather than relying on historical selling pressure indicators. This shift underscores the increasing importance of institutional involvement in shaping Bitcoin's market direction, marking a significant transformation in the cryptocurrency landscape.