CryptoQuant CEO Ki Yong Joo stated that now is a great opportunity for large investors to accumulate Bitcoin (BTC).
He shared his views with followers on Twitter, believing that despite the current weak price trend, the market remains bullish.
#Bitcoin
Market is dull, with low volatility.
= Interest from both buyers and sellers is decreasing.
= Retail exit liquidity is not ready yet.
= Ideal time for whale accumulation
$BTC
.
= We are still in a bull market cycle. Boredom is also an opportunity.
pic.twitter.com/zccHAbOOHA
-Ki Young Ju (@ki_young_ju)
July 1, 2024
Ju emphasized the lack of interest from both buyers and sellers in the market activity.
Considering the overall state of the market’s bull cycle, he views this as the perfect scenario for whales to hoard Bitcoin. CryptoQuant’s director described the current calm phase as an opportunity for strategic accumulation.
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Ju also noted that Bitcoin miners are adapting to recent price drops by mining alternative cryptocurrencies, seeing this as a temporary hedge rather than a sign of long-term bearishness.
This strategy aims to address market uncertainty while waiting for a revival in buyer interest.
