CryptoQuant founder and CEO Ki Young Ju shared his market perspective on X, stating that the ongoing selling from Bitcoin's original holders and veteran miners should be viewed as a handover process rather than a bearish signal. In his analysis, these coins are being accumulated by US traditional financial institutional investors and spot Bitcoin ETFs.
Ki Young Ju directly challenged the narrative that Bitcoin lacks the liquidity needed for further upside. He emphasized that the core factor determining a crypto asset's value is not merely trading volume but the quality of its holder base — specifically, who holds the asset matters most.
He acknowledged that as Bitcoin becomes more deeply integrated with traditional finance, its original cyberpunk ethos may experience some dilution. However, the institutional investors currently holding Bitcoin represent what he sees as a more robust and resilient demand foundation. Based on this structural shift, Ki Young Ju remains bullish on Bitcoin's mid- to long-term trajectory and advises a simple strategy for fellow investors: stay patient and hold on.