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#ETHPlunges5PercentBelow1800
CEO CryptoQuant Warns That Bitcoin Selling Pressure Remains Extremely High
CEO of CryptoQuant, Ki Young Ju, cautions that the Bitcoin market is currently facing unusually strong selling pressure despite continued growth in institutional demand.
According to Ki Young Ju, Bitcoin prices tend to trade sideways even as the Bitcoin spot ETF and Strategy have absorbed more than 1.2 million BTC since March 2024.
This is seen as indicating a large-scale shift in Bitcoin ownership from one group of investors to another.
In theory, accumulation of more than one million Bitcoin by the ETF and treasury companies should provide a significant boost to prices. However, the fact that prices have not been able to move much higher suggests that a large supply continues to enter the market.
Ki Young Ju believes this phenomenon may reflect distribution by long-time investors who are taking advantage of high institutional demand to lock in profits after holding their assets for years.
Analysts also note that the Bitcoin market is currently in an important transition phase, in which asset ownership is increasingly shifting from retail investors and early holders toward financial institutions, ETFs, and public companies.
Although selling pressure still appears strong, some observers believe that this ownership transfer process could actually strengthen the market’s foundation in the long term if the supply shifts to investors with a longer investment horizon.
However, in the short term, the high volume of distribution still has the potential to limit Bitcoin price increases despite ongoing demand from institutions.