Bitcoin is showing strong signs of a bull market, according to CryptoQuant CEO Ki Young Ju.
He explained that short-term investors are actively buying coins sold by long-term holders, a trend historically associated with rising markets.
Short-term holders typically own Bitcoin for less than 155 days, while long-term holders retain their assets for longer periods.
Ki also highlighted a shift in market behavior: larger investors holding at least one Bitcoin are increasing their holdings, while smaller retail investors with less than one Bitcoin are selling off.
This redistribution reflects a growing influence of larger players and institutions in the market.
He speculated that recent global attention on Bitcoin, partly fueled by President Trump, could prolong the bull cycle into 2026. The transition from retail to institutional dominance, facilitated by ETFs and corporate investments, may reshape the market in the coming quarters.
Ki believes this phase of accumulation and redistribution could last well into next year, signaling a potentially extended bull run.
The Trump administration is exploring the idea of leveraging tariff revenues to build a national Bitcoin reserve, signaling a broader shift in how digital assets could be integrated into U.S. economic policy.
Public companies ramped up their Bitcoin holdings in early 2025, with total corporate reserves growing by more than 95,000 BTC in the first quarter alone, according to data shared by Bitwise.
Japanese investment company Metaplanet is ramping up its Bitcoin acquisition strategy, making headlines with its latest purchase of over ¥3.7 billion (approximately $26 million USD) worth of BTC.
Bitcoin-linked investment products in the United States are feeling the pressure as tensions between Washington and Beijing weigh heavily on risk markets.