Amidst the recent Bitcoin pullback from its previous all-time high above $73,000, Ki Young Ju, the founder and Chief Executive Officer (CEO) of Crypto Quant, reassures the broader crypto community that the BTC bull market is far from over.
Bitcoin Bulls Are Not Done
In a recent X (formerly Twitter) post, Ju expressed strong bullish sentiment regarding Bitcoin, highlighting factors that suggest that Bitcoin’s upward trajectory is likely to continue. The Crypto Quant CEO shared a crucial indicator depicted in a price chart, showcasing the percentage of Realized Cap across four age bands for BTC.
According to data from the price chart, the observed trends from the Realized Cap of four age bands from 6 months to three years indicate a positive outlook for BTC in 2024.
Additionally, the CEO has stated that the primary catalyst behind Bitcoin’s rise to new all-time highs is the success of the Spot Bitcoin ETF, rather than the upcoming Bitcoin halving event in April.
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