As Bitcoin (BTC), the largest cryptocurrency, sees its price reaching $ 104,000 for the first time since the end of January, and one of the most alarming predictions of a bullish end of the market is invalidated. Bitcoin's performance (BTC) in this cycle is formed by a more diverse range of catalysts, said CEO of cryptocurrency.
Bitcoin (BTC) Bull Run no more, Massive obstacles to come: CEO Cryptoqueux
Bitcoin (BTC) Bull Run continues, the sale pressure loses steam and massive entries are on the way to locate the Bitcoin ETF. As such, the previous pessimistic forecasts proved to be wrong, the CEO of cryptochus Ki Young Ju shared in a detailed post on May 9, 2025.
He admitted that this Bitcoin cycle (BTC) had its own rules which make him different from previous rallies. Earlier, Bitcoin Pulse (BTC) was formed by old whales, minors and new retail investors. Once the optimism of new retail is over, the “big cats” collected, and it was the end of the race.
Abandonment with the greatest holders was the end of game objective for each investor. However, in this cycle, the processes are influenced by Bitcoin Spot ETF investors, governance agencies, etc. As such, the moment could have dropped the very concept of cycles, says the analyst:
However, he has the impression that it is time to throw this cycle theory. New sources and volumes of liquidity become more uncertain, signaling a transition when the Bitcoin market merges with Tradfi. Now, instead of worrying about the sale of old whales, it is more important to focus on the quantity of new liquidity from institutions and ETFs, because this new influx can prevail even on high sales of whales.
At the same time, Ki Young Ju sated in calling the current price action a clear bullish season. At least it is too early to call this present moment a point of profit.
Bitcoin ETF AUM again exceeds $ 120 billion
In the past four days, Bitcoin (BTC), the largest cryptocurrency, added more than $ 10,000 at its price. The largest crypto hit the local summit at $ 104,116, the highest since January 30.
The May 8 session has been one of the most painful for Bitcoin bears (BTC) in recent years. By Linen dataBears lost $ 400 million due to liquidations, more than 90% of all erased positions.
Bitcoin ETFs have been very successful in recent weeks. Since mid-April, they have only closed three sessions with a negative input / debit ratio. As a result, Bitcoin Spot ETF AUM exceeded $ 120 billion.
