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The founder of the encrypted and the CEO of Ki Young Joe has retracted his landing prediction yet Bitcoin price erupted over $ 100,000. This step has taken the entire market by surprise after calls dominated the decrease in the encryption space during the past few months. With the return of feelings to positivity, Young turned up, explaining the change in his position and what is going on in the market now.
Bitcoin Bull is not over yet
in X postThe CEO of Ki Young Ju explained how the current market has deviated from previous sessions. For one of them, he explains that the market is no longer dependent on the old whales, Bitcoin, retailers and miners to move the market. This was the way to find out the top of the course, which was when the old whales and mines were taking their bags. However, the market managed to move forward, and the bitcoin price is now better to accommodate large sales without a problem.
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Young explains that this can be attributed to the diversity of the market so far. appearance Bitcoin etfs spotWhich was approved by the Securities and Stock Exchange Committee (SEC) in 2024, opened new ways of liquidity. Now, not only new retailers who play the field, but also institutional investors who have obtained a way to enter the market, and with much larger pockets.
This new and large flow of liquidity has made the sales operations not affecting the price of bitcoin the way they are used to. Thus, the CEO believes that it is time to convert the focus from old to new.
Looking at this tidal change, CEO CEO Cryptoquant stated that it might have come to expel the theory of the course. This is due to the changes in the flow of liquidity, as the sources have become more nonexistent. “Now, instead of anxiety about selling old whales, it is important to focus on the amount of new liquidity that comes from institutions and investment funds circulating because this new flow can outweigh powerful whale sales,” Yong explained.
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However, it is still assumed that the current market does not flash a clear or upward pattern when it comes to the profit course. As he explains, the market is still slow about absorbing all new liquidity from different sources and indicators still “hanging around the border line.”
As for Bitcoin, it will continue to show strength after crossing $ 100,000, as Bulls Eye New Hights is more than $ 109,000. The profitability of the investor has also increased and 99 % of all bitcoin holders are now sitting in profit Data From IntothBlock.
Distinctive image from Dall.e, Chart from TradingView.com
The post CryptoQuant CEO Says It’s Time To Throw Out ‘Cycle Theory’ first appeared on Investorempires.com.
