CryptoQuant CEO Revises Bitcoin Forecast, Citing Institutional ETF Inflows and Market Structure Shift
CryptoQuant CEO Ki Young Ju has admitted his previous Bitcoin price forecast was inaccurate, reflecting a significant market shift driven by institutional adoption and ETF inflows. Ju originally relied on traditional on-chain metrics such as whale activity and miner behavior, but now acknowledges these models are less effective due to a fundamental change in the crypto market structure. The increasing presence of institutional investors, ETFs, companies, and government agencies has made historical on-chain data less relevant for predicting Bitcoin price cycles. Ju emphasized that monitoring institutional and ETF liquidity inflows is now critical, as these can counterbalance large-scale selloffs by whales. Although some on-chain metrics retain analytical value, their significance is now context-dependent and requires refined interpretation. Despite Bitcoin’s recent price gains, Ju characterizes current market conditions as ‘non-directional’ and ‘sluggish’, with a lack of clear bullish or bearish signals in standard indicators. Meanwhile, prominent analysts, including Binance founder Changpeng Zhao (CZ), remain bullish, with some projecting short-term targets above $106,000 and even long-term forecasts reaching up to $1 million per BTC. Technical indicators such as a potential golden cross and bullish MACD suggest further upward momentum. Overall, the influx of institutional capital and ETF activity is fundamentally reshaping Bitcoin market dynamics, requiring traders to shift their focus toward monitoring new sources of liquidity rather than relying solely on historical on-chain cycles.
Bullish
The news highlights a major structural shift in the Bitcoin market due to growing institutional adoption and substantial ETF inflows, which are seen as new sources of liquidity capable of offsetting traditional profit-taking by whales. This influx of institutional capital is widely interpreted as a positive long-term driver for Bitcoin’s price, with technical indicators like the golden cross and bullish MACD further supporting an optimistic outlook. While the short-term picture is described as non-directional or sluggish, leading market analysts remain confident, setting high future price targets. Traders are advised to adapt their strategies to focus on institutional and ETF-driven metrics rather than relying solely on historical on-chain data, which supports a bullish view for medium- to long-term price action.