Ki Young Ju, CEO of CryptoQuant, recently shared insights on X, expressing optimism about the current state of the cryptocurrency market. He stated that the market is in a bull phase, suggesting that Bitcoin is poised for an upward trajectory. Previously, there were predictions about short-term adjustments in the crypto market, which were not intended to indicate a bear market but rather a potential market correction.
Potential Price Cap Based on Capital Inflows
Ki Young Ju highlighted that the cumulative capital inflow into the Bitcoin market suggests a potential price cap of $135,000. This assessment reflects the ongoing bullish sentiment and the substantial investments being made in the cryptocurrency sector. The CEO's remarks underscore a positive outlook for Bitcoin, aligning with the broader market trends that have been observed in recent times.
