Ki Young Ju, CEO of CryptoQuant, has offered a sobering assessment of Bitcoin’s current state. Despite hundreds of billions in new capital entering the market, selling pressure continues to overwhelm demand, preventing any sustained upward movement.
According to his analysis, two paths forward exist. Bitcoin could drop further toward the $55,000 realized price level, resetting market structure. Alternatively, it could grind sideways between $60,000 and $70,000 for an extended period until selling pressure exhausts itself.
The altcoin picture is even more concerning. Fresh capital inflows have virtually stopped, with funds simply rotating among existing players rather than expanding the market.
For traders, this is uncomfortable but necessary reading. Recovery doesn’t begin until the weak hands exit. Whether that requires one final washout to $55K or months of sideways boredom matters less than the underlying reality: this is the accumulation phase. History shows that positioning during moments like this, not after recovery is confirmed, is what builds generational wealth.