PANews reported on February 19 that CryptoQuant CEO Ki Young Ju said that he believes Bitcoin will not enter a bear market this year and is still in a bull market cycle. He pointed out that Bitcoin prices will eventually go higher, but the fluctuation range may be large. He personally believes that even if the price falls 30% from historical highs (such as $110,000) to $77,000, the bull market cycle may continue, which is consistent with past market cycles. In addition, he mentioned that Strategy (formerly MicroStrategy)'s Bitcoin cost benchmark is $65,033.
Earlier today, CryptoQuant CEO said that the cost basis of BTC in ETFs or custodial wallets is $89,000.
