cryptoquant

Cryptoquant founder and CEO Ki Young Ju stated that the peak of the current Bitcoin bull market cycle may be driven by institutional funds and ETF demand outside the United States. He pointed out that deeper stablecoin liquidity and tokenized asset infrastructure will expand global market participation. Using South Korea as an example, Ki Young Ju mentioned that the country currently does not have a spot Bitcoin ETF, retail investors cannot purchase overseas-listed spot Bitcoin ETFs, and most companies are unable to open trading accounts to buy BTC. South Korea has phased in corporate participation, with the Financial Services Commission (FSC) roadmap covering about 3,500 listed companies and qualified professional investors, but financial institutions and other companies are still excluded.Strategy's Bitcoin bank evaluated 25 major institutions covering trading, custody, digital asset products, financing, and corporate participation, with an overall adoption rate of 32%. RWA.xyz data shows that the global tokenized asset distributed asset value is $38.63 billion, an increase of 2.65% compared to 30 days ago. The Bank for International Settlements (BIS) stated that stablecoins have the potential to enable faster, programmable payments, but current designs may pose risks to financial integrity, liquidity, and currency. Ki Young Ju pointed out that the cumulative net inflow before the launch of the U.S. spot Bitcoin ETF was about $57 billion over two years, and the next phase will be global institutionalization, with more institutions adopting BTC as a strategic asset, and countries lacking ETFs will also improve related investment channels.

CryptoQuant founder Ki Young Ju stated that the peak of this bull market cycle is likely to be driven by institutional funds and ETFs outside of the United States. Currently, South Korea has not yet launched a spot Bitcoin ETF, retail investors cannot purchase overseas related ETFs, and companies are even unable to open trading platform accounts to buy BTC.Ki Young Ju believes that the market was primarily driven by the adoption of Bitcoin in the United States, but the next phase will shift towards global institutionalization, accompanied by deeper stablecoin liquidity and RWA infrastructure. More institutions will hold BTC as a strategic asset, and several countries that have not yet launched ETFs will gradually improve related investment channels. The peak of this cycle may occur when a banker from a local bank in South Korea recommends a spot Bitcoin ETF to an elderly woman, suggesting it for savings.

According to The Block, on-chain analytics firm CryptoQuant stated that Bitcoin has entered the early stages of a new bull market, but it still needs to close above the 365-day moving average of nearly $83,000 to gain "official" confirmation.The company also pointed out that the short-term market appears "overheated," with traders and whales taking profits, and the exchange inflow of Bitcoin, Ethereum, and Ripple has increased.

According to monitoring by CryptoQuant, the inflow of USDC on the Binance platform exceeded $470 million, reaching a nearly six-month high. This data comes at a time when the US spot Bitcoin ETF has just experienced the strongest weekly capital inflow in 10 months.Related statistics were disclosed by CryptoQuant analyst AmrT_Heisenberg, showing that the inflow of stablecoins to exchanges is strengthening in sync with the capital trends of Bitcoin ETFs.

Analysts at the cryptocurrency research firm CryptoQuant believe that Bitcoin has emerged from the bear market, but a short-term pullback may occur. CryptoQuant founder Ki Young Ju posted on social media that Bitcoin has entered the early stage of a bull market and pointed out that the current trend is consistent with the market conditions before the last bull market.CryptoQuant's research shows that the inflow of funds to derivatives exchanges has resumed, confirming that traders have entered a risk-on mode, which has historically marked the beginning of a new bull market. The firm's analyst Theophiluspep stated that while Bitcoin is entering a bull market, spot demand, ETF fund flows, and market momentum have turned bullish, while high profit-taking, inflows to exchanges, and overbought conditions suggest a potential short-term cooling.Bitcoin continued to rise last week, increasing by 22% over the past 7 days, with the latest price at $78,716, briefly touching $81,160 on Monday. Previously, in June and July, Bitcoin mostly traded below $65,000. U.S. investors reversed direction last week and bought Bitcoin ETFs, achieving the best weekly performance since October, with data from Farside Investors showing that related funds managed by institutions such as BlackRock, Fidelity, Grayscale, and Morgan Stanley saw an inflow of $1.9 billion in new funds. Additionally, the U.S. Treasury announced last week that it would at least double its long-term Treasury bond repurchase scale, leading to a decline in yields, with Bitcoin and gold rising in tandem.

CryptoQuant stated that after a 24% increase, key on-chain indicators and demand metrics for Bitcoin have turned bullish, entering the early stages of a new bull market. The agency's Bull Score index surged from 30 to 80 over the past week, reaching its highest level since October 2025, with 8 out of 10 indicators showing bullish signals.During the rise, Bitcoin briefly broke through $80,000, but CryptoQuant pointed out that a weekly closing price above the 365-day moving average (currently around $83,000) is needed to confirm the transition to a new bull market. LMAX Group market strategist Joel Kruger also stated that the next significant threshold for Bitcoin is the May 2026 high of $82,820; breaking this level would reinforce the view that a cycle bottom has formed and push the price towards $100,000 and even the historical high of 2025.Despite the bullish signals, CryptoQuant warned that the short-term rally may be overheating. The unrealized profit margin for traders reached 20.5%, the highest since June 2025; short-term holder whales realized about $1.2 billion in profits between August 20 and 22, with a record $614 million on August 20 alone. Bitcoin exchange inflows also rose to about 53,000 coins, the highest since June, indicating that more tokens are moving to trading platforms.

CryptoQuant analyst ArabxChain stated that the estimated leverage ratio for XRP on the Binance platform has risen to its highest level in over 7 months. Data shows that this metric is currently around 0.213, the highest level since January of this year.The analysis suggests that if the leverage ratio increases alongside a rise in XRP prices and an increase in open contracts, it may reflect enhanced trader confidence and the continuous establishment of new positions, thereby providing support for subsequent upward trends. However, a higher leverage also means that the market is more sensitive to price fluctuations, necessitating caution regarding potential chain liquidation risks.

On August 24, according to CryptoQuant analyst Axel Adler Jr., Bitcoin rose 22% from $63,000 to $77,000 within 8 days, with the profit supply ratio of short-term holders (STH) increasing from 26.1% to 74.9%. Meanwhile, the net inflow of STH to exchanges shifted from negative to +28,600 BTC, breaking through the +25,000 threshold, indicating that profit-taking pressure is building.If this indicator remains above the threshold and price momentum slows down, the risk of selling will significantly increase; if the flow converges to zero and the profit ratio maintains above 50%, the market is expected to continue its upward trend.

CryptoQuant analyst Darkfost posted on the X platform, stating that there are clear signs of recovery in the altcoin market recently, and the market structure is changing. The "altcoin season" may have entered an early stage. Data shows that the total market capitalization of altcoins increased by about $215 billion in just three days, with a rise of over 24%, pushing the total market capitalization of altcoins back above $1 trillion. Darkfost pointed out that in this round of increase, small and medium-cap altcoins performed the strongest. Due to their lower circulating market capitalization, these assets are more sensitive to capital inflows and also have higher bidirectional volatility risks.From the data on the Binance platform, the signals of recovery in the altcoin market have further strengthened. Since November last year, about 80% to 85% of altcoins have been below the 200-day moving average (200-DMA), while currently, 56% of the altcoins listed on Binance have regained this key technical indicator, indicating that the market may be entering a new cyclical phase. Darkfost believes that this trend reversal is related to several positive signals for cryptocurrencies recently released by Trump. Trump stated that the U.S. will "massively purchase Bitcoin" and urged Congress to push the passage of the CLARITY Act, while also claiming that his administration has ended the previous unfriendly policies towards the cryptocurrency industry.Related remarks have boosted market sentiment, and against a backdrop of low trading volume and reduced selling pressure, a large amount of capital has begun to flow into the altcoin market, driving multiple sectors to rise simultaneously. Darkfost stated that based on historical experience, the current widespread increase in altcoins is usually seen as an important signal for the early start of altcoin season. However, he also warned that the market has entered an overbought area in the short term, and investors should be cautious of a phase adjustment. If the overall upward momentum continues, new investment opportunities may still arise.

CryptoQuant founder and CEO Ki Young Ju stated that BTC is currently showing strong momentum. Such rebounds during a bear market typically indicate that the bottom has been confirmed.He mentioned that there may still be a pullback, but the bear market phase is essentially over.

CryptoQuant founder Ki Young Ju posted on the X platform that the demand for Bitcoin spot and perpetual futures has turned positive for the first time since reaching a historic high in October 2025. The scale of demand is still relatively small, but if this trend continues for a month, it can be reasonably concluded that the bear market has ended and a new bull market cycle has begun.

According to Bitcoin.com, on-chain data analysis platform CryptoQuant shows that in the past 60 days, large Bitcoin holders have increased their holdings by approximately 43,000 Bitcoins, worth about $2.75 billion. This group excludes exchange and mining pool wallets, and this increase ends a months-long period of net selling.After Bitcoin dropped to around $60,000, large holders resumed buying; subsequently, Bitcoin rebounded to around $65,000, trading mainly in the $62,000 to $65,000 range in recent weeks. During the same period, the balance of "dolphin" holders defined by CryptoQuant also increased, indicating that the accumulation is not only coming from the largest wallets. In August, spot trading volume fell to the lowest monthly level since August 2021.

According to Cointelegraph citing CryptoQuant data, Bitcoin spot demand is about to turn positive for the first time since February. This shift has historically corresponded with subsequent price increases.Data shows that after similar signals appear, Bitcoin's median increase over the next 60 days is approximately 18.1%, with a win rate of about 78%. A positive turn in spot demand typically reflects an increase in buying power, and the market is focused on whether this can be sustained and drive the market.

CryptoQuant analyst Darkfost stated on the X platform that the inflow of XRP whale funds on the Binance platform has recently seen a significant decline, dropping to the lowest level since 2021 based on a 3-month average.Data shows that the current inflow of XRP whales to Binance is approximately $61 million, a substantial decrease compared to previous levels. In contrast, this metric reached $456 million in January 2025 and $355 million in October 2025, with the current level being about 6 to 8 times lower than before.Although XRP has been struggling to maintain the critical $1 price level recently, the inflow behavior of whale funds that previously preferred to conduct large transactions through Binance is decreasing. However, the net inflow of XRP remains positive at around $18.8 million, indicating that inflow funds still temporarily dominate.Darkfost pointed out that this trend is similar across the entire crypto market, with overall trading volume and fund inflows declining, which may reflect that selling pressure is easing, but new demand in the market has not yet shown a significant rebound. The cooling of whale trading activity is a positive signal for XRP, but it is still insufficient to confirm that the market has reversed, and it is too early to determine if XRP is starting a new upward trend.

CryptoQuant CEO Ki Young Ju stated that early Bitcoin traders have achieved the highest unrealized gains ever in this cycle.Unlike previous cycles where the selling pressure was mainly absorbed by cryptocurrency exchange traders, the main buying force in this market comes from structural purchases such as spot trading exchange-traded funds and inflows of digital asset funds. This change has driven the unrealized profits of Binance platform traders to nearly three times the peak in 2021.

CryptoQuant CEO Ki Young Ju stated that the current trend of Bitcoin is mainly driven by the futures market. He pointed out that although open interest continues to rise, on-chain spot demand remains in a state of net negative growth.

The hardware wallet Coldcard has been hacked, and the total losses are currently uncertain. The blockchain analysis platform CryptoQuant confirmed the loss to be 1432 bitcoins, while Galaxy Research provided a high-confidence minimum value of 1730 bitcoins. Other analyses suggest that the scale of the losses may be even higher.Research institution Galaxy Research stated that its earlier estimate of 1816 bitcoins is a potential value and not a confirmed total. As of Tuesday, the institution confirmed a high-confidence minimum loss of 1730 bitcoins, with over 450 bitcoins confirmed based on reports from victims. Blockchain intelligence company TRM Labs estimated that the attackers transferred about 1816 bitcoins from over 5200 addresses in four stages. CryptoQuant indicated that its confirmed data only includes addresses publicly disclosed by victims and verified through on-chain patterns, and the statistics may rise as more victims disclose information.

CryptoQuant founder Ki Young Ju posted on the X platform, correcting the previous analysis of CME Bitcoin futures positions, stating that "Total Reportables (large institutional traders)" was mistakenly labeled as "Leveraged Funds," leading to the belief that CME hedge funds rarely turned into net long positions in BTC futures. However, the actual situation is that leveraged funds still maintain net short positions in BTC futures.Ki Young Ju provided CFTC futures position data as of August 4: 1. Large institutional traders overall show a slight net long position, which includes asset management institutions, market makers, dealers, etc. Ki Young Ju stated that although the net long extent is limited, the previous judgment about institutional direction being bullish still holds. 2. Leveraged funds still maintain net short positions in BTC futures, but over the past year, their standard BTC futures net short position has decreased by about 50% (measured in BTC), mainly due to the decline in basis trading returns. When the futures basis returns fell below U.S. Treasury yields, the arbitrage space narrowed. Leveraged funds currently show a net long position in Micro BTC futures, but the scale is small, only about +394 BTC, which is approximately 1% of the standard BTC futures net short position. Ki Young Ju indicated that leveraged funds overall have not yet turned into net long positions, but their long-term structural shorts are clearly weakening, which may reflect the closing of arbitrage trades and adjustments in directional positions.

CryptoQuant founder Ki Young Ju posted that the correlation between Bitcoin and gold has returned to the levels of the digital gold era.

CryptoQuant founder Ki Young Ju stated that hedge funds on the CME have turned into net long positions in BTC futures, which is a rare situation.He pointed out that basis trading usually causes hedge funds to structurally hold short positions, which is also the reason why related data has remained negative for years, and basis trading cannot be conducted in a net long position. This shift of hedge funds to net long positions in BTC futures indicates that institutional investors are optimistic about further increases in BTC prices.