“If That Happens, I’ll Admit I Was Wrong!”

Ki Young Ju, CEO of on-chain analytics firm CryptoQuant, shared a candid update on social media regarding the current state of the Bitcoin market, signaling a possible shift in his long-held views on crypto market cycles.

CryptoQuant CEO Reassesses Bitcoin Market Outlook

“In the days following my call that the bull cycle was over, Bitcoin fell 10%. However, it is now trading 10% higher than when I made that assessment,” Ki wrote. “I still believe we are in a broad consolidation phase, but I will happily admit I was wrong if Bitcoin breaks above the $100,000 level.”

While Ki continues to monitor long-term supply and demand dynamics through on-chain data, he emphasized that event-driven volatility, particularly tied to political developments such as comments by former US President Donald Trump, is increasingly overshadowing traditional indicators.

“Short-term price action is more responsive to external headlines than on-chain fundamentals, making it difficult for traditional cycle-based on-chain indicators to remain effective,” he said.

This revelation points to a growing divide in the crypto analyst community, where interpretations of blockchain data differ greatly even among on-chain experts.

Ki added that if Bitcoin reaches a new all-time high before Q4, he could abandon the cycle theory altogether.

“A market without identifiable cycles could be completely different from what we know,” he said. “If that happens, the perma-bulls will have been right all along.

Ki’s comments come as Bitcoin continues to trade on a choppy but generally upward trajectory, defying conventional expectations amid macro uncertainty, shifting regulatory dynamics, and renewed institutional interest.

*This is not investment advice.