CryptoQuant CEO: Bitcoin Cycle Theory has Become Outdated, Rise of Institutional Long-Term Holders

BlockBeats News, July 25th, CryptoQuant Founder and CEO Ki Young Ju stated in a post on X platform that the "Bitcoin cycle theory has failed. My previous predictions were based on this theory—buy when whales start accumulating, sell when retail investors start entering. But this pattern is no longer valid."

"In the previous cycle, whales sold coins to retail investors. However, this time, old whales sold coins to new long-term holders. The scale of institutional investment far exceeded our expectations. Trading has become meaningless, and now the number of holders has surpassed the number of traders. I overlooked this structural change when making the call for the end of the bull market."