The cryptocurrency market is undergoing major transformations as revealed by Ki Young Ju, CEO of CryptoQuant. Ju previously predicted the end of the crypto bull run based on on-chain metrics, but recent market dynamics have led to a reassessment of his predictions. Ju sheds light on the current rally, highlighting the shifting nature of the crypto environment. The market’s change has rendered previously reliable metrics less effective. This shift coincides with the rise of new players in the market, like ETFs and larger investors, which are now shaping trends beyond just whales and retail traders. This complex structure complicates traditional cycles of profit-taking and selling pressure. Market indicators currently show a more ambiguous picture, neither strongly bullish nor bearish.