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CryptoQuant CEO: Bitcoin will not experience a significant decline in this round of bear market, and may consolidate sideways in the coming months
On January 8th, CryptoQuant CEO Ki Young Ju posted on social media stating that liquidity channels are now more diversified, so timing the inflow of funds is meaningless. Institutions holding Bitcoin long-term have ended the previous whale-retail selling cycle. Strategy will not sell any large portions of the 673,000 Bitcoins it holds. Funds are simply flowing into stocks and precious metals. “I don’t think Bitcoin will see a drop of more than 50% from its all-time high like in previous bear markets. The next few months may just see sideways consolidation.”