CryptoQuant CEO Ki Young Ju has revealed that the current Bitcoin market correction is fueled by sales from long-term holders, primarily early investors selling to traditional financial institutions. While his earlier prediction of a market peak was based on ‘OG whales’ shedding significant holdings, this market structure shift has occurred. Ki Young Ju highlighted that Exchange Traded Funds (ETFs), MicroStrategy, and emerging funding channels continue to bolster liquidity with substantial capital inflows. This downward movement in prices is attributed to the selling efforts of early investors. However, he emphasizes that institutions like sovereign funds, pension funds, multi-asset funds, and corporate treasuries are actively investing, leading to expanded liquidity channels for Bitcoin. In this context, traditional market cycles no longer apply.