CryptoQuant CEO: Bitcoin Unlikely to Drop 70% Unless Saylor Sells Aggressively

CryptoQuant CEO Ki Young Ju said on Feb. 1 that Bitcoin's recent decline reflects persistent selling pressure and the absence of fresh capital inflows, BlockBeats reports. He noted that early holders, whose unrealized gains were supported by ETF and MSTR buying, began locking in profits from early last year, and while strong inflows at the time helped keep the price around $100,000, those inflows have now largely dried up. Ju described MSTR as the main driver of Bitcoin's latest advance and said that unless Saylor sells holdings aggressively, a 70% decline similar to earlier cycles is unlikely. He added that the market bottom is not yet identifiable and this bear phase could develop into a broad, range-bound consolidation.