Ki Young Ju, CEO of market intelligence firm CryptoQuant, has asserted that the long-established Bitcoin market cycle theory, which centered on retail investor behavior, is no longer valid. Ju identified a fundamental shift in Bitcoin market dynamics driven by institutional capital.
According to Ju, institutional investment has emerged as the dominant force within the Bitcoin market, exceeding earlier projections. This significant influx of institutional capital has effectively severed the predictive power of previous cycle models based primarily on trends among retail participants.
The CryptoQuant CEO emphasized that this change in investment patterns has fundamentally reshaped the bull market lifecycle of Bitcoin, marking a definitive departure from traditional expectations dominated solely by retail market activity.