CryptoQuant CEO: If BTC reaches an ATH before Q4, the cycle theory will be completely abandoned

ChainCatcher message, CryptoQuant CEO Ki Young Ju posted on X: "After I announced the end of the bull market cycle, Bitcoin dropped by 10%, but now the price is 10% higher than when I made that judgment. I still believe we are in a wide-ranging oscillation zone. If we break through the $100,000 mark, I will gladly admit I was wrong. Until then, I will continue to observe several weeks of data to confirm whether this is a true trend reversal.

My analysis focuses on the long-term supply and demand relationship based on on-chain data. However, in this market that reacts to every word from Trump, short-term price movements are more event-driven, making traditional cyclical on-chain indicators less effective. Of course, even among on-chain analysts, interpretations of the data can vary greatly. If Bitcoin reaches a new all-time high before the fourth quarter, I will completely abandon the cycle theory. A market without a clear cycle may be entirely different from our previous understanding. At that time, the die-hard bulls will be right------perpetual rise."