CryptoQuant CEO Apologizes for Bitcoin Bull Cycle Prediction Error

Coin WorldFriday, May 9, 2025 2:21 pm ET

1min read

CryptoQuant CEO Kee Young Ju has publicly apologized for an incorrect prediction made two months ago regarding the end of Bitcoin's bull cycle. Ju acknowledged that the dynamics of Bitcoin's market have evolved, with new participants and significant funds entering through exchange-traded funds (ETFs).

Previously, Bitcoin's market was primarily influenced by miners, whales, and retail investors. However, the market structure has become more complex with the addition of ETFs, institutional investors, and even government entities. Ju emphasized that the old model of market cycles no longer applies, and it is now crucial to assess the volume of new capital from institutional investors and ETFs, which can compensate for the mass exit of large holders.

Despite the growth in Bitcoin's price, Ju described the current market as "sluggish," with most indicators balancing on the edge and not providing clear signals. He clarified that an error in prediction does not diminish the value of on-chain metrics, as different analysts can interpret the data in various ways. Ju promised to improve the quality of his expertise by considering new factors, including the integration of Bitcoin with traditional finance.

According to the analyst, the market structure has evolved significantly, with new participants and significant funds entering through exchange-traded funds (ETFs). The dynamics of Bitcoin's market have changed, and the old model of cycles no longer applies. It is now crucial to assess the volume of new capital from institutional investors and ETFs, which can compensate for the mass exit of large holders.

Ju emphasized that the current market is "sluggish," with most indicators balancing on the edge and not providing clear signals. He clarified that an error in prediction does not diminish the value of on-chain metrics, as different analysts can interpret the data in various ways. Ju promised to improve the quality of his expertise by considering new factors, including the integration of Bitcoin with traditional finance.

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