TREE NEWS reports: CryptoQuant founder Ki Young Ju said Bitcoin’s bull market has begun and the market is in the early stage of a new cycle, forecasting a 3-5x gain this cycle rather than the 10x-plus surges of the past. He attributed the change to ETFs becoming the main source of liquidity, a larger market and greater institutional participation, and said long-term holder selling has stopped as new capital flows in. Bitcoin reclaimed the key 83,000 annual line by the end of September.
CryptoQuant CEO: Bitcoin to Gain 3-5x This Cycle, Watch On-Chain Behavior
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AI take
The notable claim here is not the multiple but the mechanism: ETF-driven liquidity is presented as the reason this cycle should be shallower than past ones, which reframes institutional flows as a dampener on upside rather than pure fuel. That matters for anyone using prior cycle drawdowns and blow-off tops as a template. The on-chain signal cited is long-term holder selling stopping, which is the metric worth tracking — whether that holds as new capital arrives is the open question.
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