According to Deep Tide TechFlow news, on April 23, CryptoQuant CEO Ki Young Ju stated that although he previously predicted that the bull run cycle had ended, the price of Bitcoin has risen 10% compared to that time. He still believes that the market is fluctuating within a wide range and if it breaks through 100,000 USD, he will acknowledge that his judgment was incorrect.
Ki Young Ju stated that his focus is on the long-term supply and demand relationship based on on-chain data. However, in the current market that is sensitive to Trump’s remarks, short-term price trends are more influenced by event-driven factors, making it more challenging to analyze using cyclical on-chain indicators. He added that if Bitcoin reaches a new all-time high before the fourth quarter, he will abandon the cyclical theory, as this would imply a fundamental change in the market.
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