Bitcoin’s rise over the barrier of 100 thousand dollars surprised everyone, especially after a period in which negative expectations were dominated by the market, the founder of Cryptoquant and its CEO “Ki Young Joe” was among those who changed their position, as he declared his transformation to the positive view and explained the reasons for this, stressing that the time has come to reconsider the old concepts that govern the market.
The ascension cycle is not over yet
In a post on the “X” platform, “Ki Young Joe” explained that the market is no longer going in the same style that we used to in previous sessions, and in the past the market movement was largely dependent on old whales, individual and hostile investors, and it was possible to predict the summit of the session when they begin to sell their possessions, but now the market has developed to the point that it has become able to absorb large sales without prices being affected significantly.
Young attributes this change to the diversity of liquidity sources in the market. After the approval of the US Securities and Exchange Commission in 2024 on the Spot ETFS immediate funds, new liquidity channels appeared and the door was opened for institutional investors to enter the market, who have much more financial capacity than individual investors.
Thanks to this new and large flow of liquidity, the sales operations of the major whales are no longer able to cause the same effect on the price, and for this reason, “Young” believes that the time has come to focus on the new powers in the market rather than continuing to rely on old concepts.
The end of the “course theory”?
In light of this transformation, CEO Cryptoquant called for abandoning the “course theory” that was explaining market behavior for years.
He explained that the sources of liquidity have become more mysterious, and it is now more beneficial to monitor the amount of new liquidity coming from institutions and ETFS boxes because its impact may be stronger even than the major whales.
Nevertheless, “Young” indicates that the market does not provide clear signals currently about whether it is in a state of bullish or declining in terms of the profit reaping cycle, even with the entry of new liquidity, the indicators are still “stuck on the edge” as he described it.
Bitcoin is heading towards historical peaks
Bitcoin continued its strength after exceeding the barrier of $ 100,000, as buyers are now looking to reach a new summit exceeding 109 thousand dollars, and according to data from the InTothheblock platform, 99% of Bitcoin holders currently make profits, indicating a strong wave of positive momentum.
