CryptoQuant CEO Predicts Traditional Financial Institutions Will Announce Bitcoin Holdings
CryptoQuant CEO Ki Young Ju observes significant Bitcoin accumulation by permanent holder addresses, with 404,448 BTC transferred in the past 30 days.
Ju predicts that within a year, traditional finance institutions, companies, or governments will announce their Bitcoin acquisitions, potentially in Q3 2024, leading to regret among retail investors who hesitated due to concerns about regulatory issues or macroeconomic factors. Ju highlights bullish on-chain indicators for Bitcoin, including a recovery in hashrate, whale accumulation, and a lack of retail investor activity.
However, he also notes potential macroeconomic risks and some bearish on-chain signals that could challenge market recovery.
Clever Robot News Desk 9th August 2024
