Kij Young Joe, CEO of Cryptoquant and a prominent personality in encryption analysis, has publicly announced that the theory of the traditional bitcoin cycle is no longer valid.
This bold statement is a recognition that its previous predictions are now old. It reflects a deep shift in the nature of the market compared to the past.
Why did the traditional session theory collapse?
The theory of the previous Bitcoin cycle was built from Ki Young JU on two ages: the purchase when the whales accumulate and sell them when the retailers enter.
Use these two workers as a basis for Its previous predictions Including his previous call in March that the bull cycle has ended.
However, with the transformation of market dynamics, he admitted that this theory is no longer suitable. He even apologized, expressing his concern that his prediction may have affected a person’s investment decisions.
The main difference that prompted him to abandon the theory lies in how whales behave. In the past, bitcoin whales were distributed to retailers. But now, the old whales that the long -term whales are sold recently.
This shift has increased the number of bearers – exceeding the number of traders.
Bitcoin’s institutional adoption not only exceeded its expectations, but also for the expectations of many analysts. This has led to the market environment, unlike anything seen in Bitcoin’s history, making comparisons difficult.
Modern analysis on Cryptoquant supports his argument. Burkkesmeci analyst indicated that the data on the series clearly shows that this is not the classic “madness of the retail investor”, unlike previous sessions.
The plans reveal that since early 2023, retailers have sold BTC, and their holdings have decreased steadily. In contrast, large institutions, funds, and portfolios – including traded investment funds – accumulate bitcoin activity.
“This session is not like mad in 2021. There is no group euphoria, and social media does not overflow. Quiet and smart money is currently on stage – and most people are still watching from the side lines,” said Pirakisyssi.
However, this new market environment makes prediction more difficult.
In previous sessions, investors got acquainted with the bear markets by retail holders. But now, an urgent question arises: How will the bear market look like if the founding investors start panic instead?
This may be the biggest challenge for risk managers today.
Disintegration
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2025-07-25 07:24:00
