The CEO of digital platform CryptoQuant, Ki Young Ju, says that Michael Saylor’s Strategy may be hindering Bitcoin (BTC) recovery.
Ki Young Ju they tell us His 429,000 followers on X that by the habit of buying large amounts of Bitcoin, the Strategy may be reshaping the historical cycle of the advanced digital economy and keeping BTC in the price range between the high selling book.
“Strategy’s BTC purchase here seems to be more of an economic deepening than a price support. They need to stop the purchase of Bitcoin, rebuild the cash reserves and have a plan to prepare for the time of purchase. In the low price environment, this demand can move the price clearly. Under the current situation, the pressure to sell clearly rises, it cannot do more than the 6 billion years ago that increased the price of Bitcoin in the last two years. It has decreased by 1%.
He says that the buying strategy can prevent a deep correction of the market that would create the right conditions for the historical cycle and the subsequent recovery.
“Worse, continuous buying can prevent the market from falling, giving owners more money and confidence to make a profit. Often, Bitcoin cycles are also caused by crashes, depression, exit from weak hands, and the accumulation of whales. This cycle has been different until now. Bitcoin has moved in different directions for about two years, but the bull has been very strong for up to two years. As a result, weak hands have not been released, and strong hands have not accumulated strongly.
Bitcoin is trading at $60,986 at the time of writing, down 2.8% on the day.
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