The Bitcoin ($BTC) bull cycle is still active in the cryptocurrency market. The demand for Bitcoin remains strong, and buying pressure continues. CryptoQuant Founder & CEO Ki Young Ju believes the market continues climbing beyond its current position.
ETF Inflows and MSTR Purchases Fuel Bitcoin Rally
The CEO of analytics platform noted Bitcoin’s price decline began two months after GBTC stopped receiving inflows during 2021. The market continues to operate through its existing buying system. Multiple institutional investors along with Exchange-Traded Funds and business entities such as MicroStrategy (MSTR) continue to make Bitcoin purchases. The market purchasing trend remains strong prompting researchers to avoid forecasting a cycle peak.
Bitcoin is currently trading around $104,000. The present market valuation indicates ongoing investment attraction among retail buyers along with institutional investors. Market depends on institutional investment trends to assess possible market changes.
In the opinion of Ki Young Ju, the current situation could reflect past market patterns. Continued BTC purchases through ETFs and massive investor movements can possibly extend the current bull market phase.
Bitcoin Uptrend Likely to Continue Amid Strong Demand
The system tracks Bitcoin movements and market trends that take place across different cryptocurrency exchanges. A large number of key players demonstrate sustained Bitcoin purchasing activities through exchange records. The continuous accumulation by investors establishes better conditions for market price growth.
Bitcoin has gained momentum because investors think positive things will happen with ETFs and because more people are adopting the cryptocurrency. Major financial institutions through their buying behavior have significantly propelled the Bitcoin price to stay elevated. The uptrend will most likely continue so long as buyers preserve their buying strength.
Analysis from Ki Young Ju of CryptoQuant shows that investors should remain patient. Institutional demand needs time to decrease before Bitcoin reaches its peak in this cycle. Market conditions continue to be optimistic while investors closely follow upcoming market patterns.
