CryptoQuant CEO Apologizes for Incorrect Bitcoin Price Prediction

CEO of the analytical platform CryptoQuant Ki Young Ju openly admitted the error in his previous conclusions about the end of Bitcoin's growth made two months ago. He wrote about this in his microblog.

According to him, the reduction in pressure from large sellers and the active inflow of funds through cryptocurrency ETF funds have changed previous estimates.

“The old cycle models no longer work – the market has become more complex,” the expert said, emphasizing the need to take new players into account.

Previously, BTC price movement was determined by three groups: miners, large holders (whales), and retail investors. However, when liquidity from new participants was exhausted and whales took profits, a chain of sell-offs was launched. Now ETFs, corporations (including Strategy), institutional funds, and government agencies have joined the game.

“These players can offset even large holders’ mass exits, making forecasting more difficult,” Zhu explained.

Despite the rise in the value of the first cryptocurrency, the CEO of CryptoQuant called the situation “sluggish” as key metrics are in a state of uncertainty. However, he emphasized that on-chain data remains relevant, although interpretation requires adaptation.

“The facts don’t disappear, but their analysis must take into account new realities,” he added, promising to improve the methodology given the integration of bitcoin into the traditional financial system.

Earlier, Binance founder Changpeng Zhao (CZ) shared an optimistic forecast regarding the future of Bitcoin in an interview with Farokh Radio.