TechFlow news, November 17 — Ki Young Ju, founder and CEO of CryptoQuant, posted that the current Bitcoin decline is merely an internal rotation among long-term holders, with early Bitcoin holders selling to traditional financial institutions, which will also hold for the long term.
Ki Young Ju pointed out that new channels such as exchange-traded funds (ETFs) and MicroStrategy continue to inject fresh liquidity, and on-chain capital inflows remain strong. The recent price drop was primarily dragged down by original whales. He stated that sovereign wealth funds, pension funds, multi-asset funds, and corporate treasuries are building larger liquidity channels, and until these liquidity flows cease, cycle theories are no longer valid.
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