CryptoQuant founder: Bitcoin cycle theory is no longer valid

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TechFlow news, on July 25, the founder of CryptoQuant, Ki Young Ju, stated that the cycle theory of "buying when whales accumulate and selling when retail investors enter" no longer applies. In previous cycles, whales would sell their chips to retail investors, but now old whales are selling to new long-term whales, with institutional participation far exceeding expectations, and the number of holders already surpassing traders.

Ki Young Ju apologized for his previous incorrect judgment that the "bull market cycle has ended" and said he will be more cautious in the future, focusing on data-driven analysis.

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