CryptoQuant Founder Predicts Bitcoin Will Regain Upward Momentum

CryptoQuant founder Ki Young Ju stated that the inflow of funds into Bitcoin spot ETFs has been weak this year, with net inflows close to zero since the beginning of the year, while the price of Bitcoin has only dropped by about 7%. He believes that despite the weak ETF demand, the price of Bitcoin remains relatively strong, indicating that the likelihood of early holders or miners engaging in large-scale sell-offs is low, and potential sellers may have largely completed their sell-offs. Ki Young Ju expects that as the uncertainty surrounding the U.S. midterm elections gradually dissipates and ETF inflows recover, the bullish momentum in the Bitcoin market is likely to return.

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