CryptoQuant CEO: Market Won't Repeat 70% Crash as Long as Strategy Remains

Bitcoin Market Analysis

CryptoQuant CEO Ki Young Ju recently highlighted that Bitcoin's price is under continued downward pressure from selling activity. Early holders have accumulated significant unrealized gains due to purchases from ETFs and MSTR.

These holders have been gradually cashing in since early last year. However, with new inflows drying up, Bitcoin has struggled to sustain prices near $100,000.

• Bitcoin price continues to decline
• Early holders have unrealized gains
• New inflows have dried up

Market Outlook

Ki Young Ju noted that MSTR was a key driver of this bull run. As long as Saylor doesn't sell off large portions of the company's holdings, the market should avoid a 70% crash like previous cycles.

While the market bottom isn't yet clear, this bear market may result in a broad sideways consolidation phase with extended range-bound trading.