CryptoQuant CEO admits BTC prediction error, calls cycle theory outdated

In a recent post on X, CryptoQuant CEO Ki Young Ju admitted that his earlier prediction about Bitcoin (BTC) was incorrect. A couple of months ago, he had argued that the bull market had ended. Although he has adjusted his outlook, he still views the market as sluggish, caught between bullish and bearish signals while gradually absorbing new liquidity. He noted that the market has become more diverse, moving beyond old whales, miners and retail investors to include ETFs, Strategy, institutions and government agencies. According to Ju, traditional profit cycles, driven by whale sell-offs at peaks, are now less relevant. Instead, he emphasized that new liquidity from institutions and ETFs can offset even large whale offloading.