CryptoQuant CEO Ki Young Ju identified a potential Bitcoin market bottom signal following Strategy's sale that pushed BTC from above $70,000 to the $61,000 level. Ki Young Ju stated that short-term Bitcoin holders who have held for less than 155 days are transitioning into long-term investors. The shift occurs as Bitcoin trades at the same price level as two years ago, with addresses holding Bitcoin for six months to two years now controlling approximately 53% of the supply compared to around 15% two years ago. Ki Young Ju attributes the current market conditions to a transfer of ownership from Bitcoin OGs and former miners to institutional investors and ETFs. He argues that if current holders can attract greater liquidity, institutional investors could create a stronger demand base for asset value appreciation.
CryptoQuant CEO Identifies Holder Transition Pattern
Ki Young Ju stated in an interview with X that short-term investors who have held Bitcoin for less than 155 days are turning into long-term investors. The CryptoQuant CEO noted that BTC is at the same price level as it was two years ago. Addresses holding Bitcoin for six months to two years currently hold approximately 53% of the supply, according to Ki Young Ju's analysis. This figure was around 15% two years ago.
Historical Cycle Data Shows 68% Supply Threshold
Ki Young Ju pointed out that in past cycles, the market's retention rate for the six-month to two-year holder group bottomed out when it reached 68% of the supply. The current 53% supply held by this group represents movement toward that historical threshold. The CryptoQuant CEO's analysis compares current holder distribution patterns to previous market cycle bottoms.
Ki Young Ju Attributes Sales to Institutional Ownership Transfer
Ki Young Ju views the sales by Bitcoin OGs and former miners as a transfer to institutional investors and ETFs. He stated: "I see the sale of Bitcoin OGs and former miners as a major handover process, shifting ownership to traditional American financial institution investors and ETFs." The CryptoQuant CEO added that he views the sales as a transfer to institutional investors and ETFs. Ki Young Ju stated that what matters for any asset is who holds it. He argues that if current holders can attract greater liquidity, institutional investors could create a stronger demand base for asset value appreciation. Ki Young Ju stated: "If those holding it now are actors who could attract greater liquidity in the future, I think the next rally can always be replanned."
FAQ
What holder transition pattern did CryptoQuant CEO Ki Young Ju identify in Bitcoin?
Ki Young Ju stated that short-term Bitcoin holders who have held for less than 155 days are transitioning into long-term investors. Addresses holding Bitcoin for six months to two years currently hold approximately 53% of the supply, compared to around 15% two years ago.
Why is the 68% supply threshold significant in Ki Young Ju's analysis?
Ki Young Ju pointed out that in past market cycles, the retention rate for the six-month to two-year holder group bottomed out when it reached 68% of the supply. The current 53% figure represents movement toward this historical bottom threshold.
How does Ki Young Ju explain the sales by Bitcoin OGs and former miners?
Ki Young Ju views the sales as a major handover process shifting ownership to traditional American financial institution investors and ETFs. He argues that if current holders can attract greater liquidity, institutional investors could create a stronger demand base for asset value appreciation.
