NewsBTC •
June 4, 2026 at 22:40 •
Analysis
CryptoQuant CEO Ki Young Ju says Bitcoin’s current distribution phase may be less a sign of structural weakness than a major transfer of supply from old market participants to US financial institutions, ETFs and new long-term holders. In a series of posts on X, Ki argued that selling by Bitcoin OGs and long-time miners is part of a broad “change of hands” rather than evidence that the asset has exhausted its cycle. The key question, in his view, is not only how much supply is being sold, but who is ultimately absorbing it. “I believe that the selling by Bitcoin OGs and long-time miners is part of a major shift in hands, transferring to US traditional financial institutions, investors, and ETFs,” Ki wrote. “So, I disagree with the claim that Bitcoin won’t do well anym...
