Whales Find Ideal Time to Buy Bitcoin, Says CryptoQuant CEO

According to CryptoQuant's CEO, Ki Young Ju, now is a prime opportunity for large investors to gather Bitcoin (BTC).

Sharing his views with his 350,800 followers on X, he believes that despite Bitcoin’s current lackluster price movements, the market remains bullish.

#Bitcoin market is boring with less volatility.

= Less interest from both buyers and sellers.
= Retail exit liquidity not ready.
= Ideal time for whales to accumulate $BTC.

= We’re still in a bull cycle. Boring is an opportunity. pic.twitter.com/zccHAbOOHA

— Ki Young Ju (@ki_young_ju) July 1, 2024

Ju highlights the subdued market activity, noting the low interest from both buyers and sellers.

He sees this as the perfect scenario for whales to amass BTC, considering the market’s overall bull cycle status. CryptoQuant’s director describes the current quiet phase as a chance for strategic accumulation.

READ MORE:

Crypto Whales Have Amassed Over $300 Million Worth of Bitcoin in the Last Month

Ju also points out that Bitcoin miners have been adjusting to the recent price declines by mining alternative cryptocurrencies, a move he views as a temporary hedge rather than a sign of long-term bearish sentiment.

This strategy aims to navigate market uncertainties while awaiting a recovery in buyer interest.

Alexander Stefanov