Ki Young Ju noted that while the sales of former whales will not have a devastating impact on the market, institutional buying is an important indicator for recovery.
CryptoQuant CEO Ki Young Ju made important statements regarding the current activity in the Bitcoin market. In his evaluation via X, he stated that the current sales were largely carried out by old whales.
Ki Young Ju stated that whales are conducting high-volume transactions in over-the-counter (OTC) markets and depositing significant amounts of Bitcoin into exchanges. However, he expressed the view that these sales will not have a devastating effect on the market.
On the other hand, he stated that Bitcoin purchases were mainly made by US-based institutional investors via the Coinbase exchange. However, the CEO emphasized that the daily premium level was at its lowest point in the last two years and that this indicator needed to recover for the market's next upward move.
Market analysts say that such comments provide important signals that Bitcoin investors should follow closely. The actions of whales and institutional investors can play a decisive role in the future direction of the crypto market.
Stay tuned.