Bitcoin Faces Significant Selling Pressure, Says CryptoQuant CEO
- CryptoQuant CEO Ki Young Ju states Bitcoin is “not pumpable right now.”
- Inflow of $10 billion in cash could create a $26 billion BTC book value.
- Despite $308 billion inflow in one year, market cap fell by $98 billion.
- Selling pressure suggests a supply overhang absorbing demand.
Ju expresses concerns about potential forced selling among institutions, which could lead to cascading liquidations and further price declines. If Bitcoin does not rebound meaningfully within the next month, the risk of structural selling increases significantly. This situation highlights the fragile state of Bitcoin and the challenges it faces in regaining investor trust.
The current market dynamics indicate that even substantial capital inflows are insufficient to drive up prices, raising alarms about ongoing institutional selling pressures. Without a significant recovery soon, Bitcoin’s stability may be at risk. (Source)
