Original Summary

CryptoQuant Founder: Bitcoin Bull Cycle Expected to Yield 3–5x CryptoQuant founder Ki Young Ju stated that he expects the current Bitcoin bull market to deliver a 3x to 5x advance rather than a parabolic 10x+ surge, followed by a markedly milder bear market. Ju noted that while earlier retail-driven, low-liquidity cycles saw hot money fuel explosive vertical rallies alongside 80% drawdowns, growing institutional ownership and an expanded market capitalization are structurally dampening volatility on both ends. Highlighting on-chain indicators, he pointed out that MVRV has never dipped below 1 this cycle, while realized cap is climbing with fresh capital, early "OG" whales have halted distributions, futures whales loaded aggressive long exposure near cycle lows, and the 365-day moving average of CryptoQuant’s PnL Index is printing a meaningful inflection point.

  • 情报分类：商业与市场研究
  • 分类依据：内容涉及商业、投资或市场动态
  • 信息来源：金融 / 加密市场 / Wu Blockchain @WuBlockchain
  • 发布时间：2026/9/23 09:25:28