As Bitcoin's market capitalization has expanded, the amount of fresh capital required to spark another major price surge has grown substantially, according to CryptoQuant Chief Executive Ki Young Ju. His analysis argues that the asset has become too large to be moved significantly by the inflows that drove past rallies. Where smaller amounts of buying once pushed prices sharply higher, the current market size means trillions of dollars may now be needed to produce a similar parabolic move. The report also points to fading demand from spot Bitcoin exchange-traded funds, which had been a key source of buying pressure. Ju suggests the next leg up depends less on investor conviction and more on whether large balance sheets are willing to commit capital at scale, raising questions about where such substantial funding might originate.
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