CryptoQuant CEO Ki Young Ju believes Bitcoin has entered a phase ideal for long-term accumulation, noting that current market conditions favor spot holding rather than leveraged derivatives trading.
According to Ju, on-chain indicators show that the latest bull cycle likely peaked around the $100,000 level. Traditionally, after such a cycle ends, Bitcoin tends to retrace toward its realized price, which now sits near $56,000.
However, Ju doubts that BTC will drop that low this time. He highlighted the presence of large institutional buyers and major long-term holders — including MicroStrategy — who continue absorbing supply and reducing the chances of a deep correction.
Ju also pointed to the broader macro environment. Governments are likely to inject liquidity into markets by mid-2025 for political and economic reasons, which could quickly revive risk appetite.
“In my view, selling or opening shorts right now is a bad idea,”
— said Ki Young Ju, adding that he personally has stopped using leverage but remains confident in Bitcoin’s long-term trajectory.
Earlier, CryptoQuant analysts suggested that Bitcoin would likely trade within the $60,000–$80,000 range if the U.S. Federal Reserve does not move to cut interest rates.
