Ki Young Ju admits to a misstep in predicting Bitcoin's bull cycle end, as the cryptocurrency surpasses $100K, signaling market shift - IcoHolder.

CryptoQuant CEO Ki Young Ju has publicly acknowledged a misstep in his earlier prediction regarding the end of Bitcoin's bull cycle, which was proven wrong as the cryptocurrency surpassed the $100,000 mark on May 8, 2025. Ju, who had previously claimed that the bull market was over, apologized to his followers for the inaccurate forecast and emphasized the evolving nature of the market.

In his recent post, Ju admitted that Bitcoin’s performance, particularly after President Trump's announcement of a new trade deal with the U.K., showed that the market is not following the expected patterns. "I apologize for the incorrect prediction. I will strive to provide higher-quality analyses in the future. Thank you," he wrote, reflecting on his earlier stance.

Ju further explained that the Bitcoin market has shifted significantly, no longer relying solely on the traditional dynamics of whales and retail investors. He highlighted the increasing involvement of institutional investors, exchange-traded funds (ETFs), and even government agencies, all of which have diversified the market.

With this transformation, Ju proposed that the market's movements could no longer be reliably assessed using the old method of tracking "profit-taking cycles," where whale sell-offs often trigger a broader market decline. Instead, he suggested that new liquidity from institutional players and ETFs could now have a greater impact on the market than traditional sell-offs.

At the time of writing, Bitcoin had gained more than 3% in the past 24 hours, trading at $102,773. This marks the first time Bitcoin has surpassed the $100,000 threshold since February 2025. Despite this bullish movement, Ju noted a slight dip in trading volume, which had fallen by over 30% to $51 billion.

While Ju believes that the market is currently in a transitional phase, he stressed the importance of continuing to analyze on-chain data to understand the market’s direction. Although the recent price surge is optimistic, Ju clarified that the current market dynamics are still in flux, with new liquidity absorption slow and profit-taking cycles still at play.

Ju’s previous prediction, made in March 2025, had forecasted that Bitcoin would experience "bearish or sideways price action" in the next six to 12 months. At that time, Bitcoin’s price had fallen below $75,000 after Trump's announcement of blanket tariffs. However, the recent price action challenges his earlier expectations, underscoring the uncertainty in predicting Bitcoin’s trajectory.