Key Insights:
- OG holders are selling BTC into the dip, according to CryptoQuant CEO Ki Young Ju.
- Institutions and funds are absorbing that supply, Strategy now holds around 649,870 BTC after adding 8,178 BTC.
- Ju warns institutional inflows are strong enough to alter the market: “selling pressure is easing” and he urges analysts to “throw out that cycle theory.”
CryptoQuant CEO Ki Young Ju said that Bitcoin’s usual four‑year boom‑and‑bust cycle is effectively “breaking” as new inflows from institutional players reshape the market.
Ju admitted he had been wrong to call the end of the bull cycle months ago, noting that “selling pressure is easing, and massive inflows are coming through ETFs… In the past, the market was pretty simple… old whales, miners, and retail passed the bag to each other.”
He argued that this dynamic has changed: original Bitcoin holders, so-called OG investors, are selling into dips, and their coins are being bought by long-term institutional buyers.
According Yu, these new inflows continue to strengthen despite the dip, altering or even breaking the traditional Bitcoin market cycle structure.
Institutional Demand Keeps Market Supported
Institutional demand now accounts for a growing share of BTC ownership. For example, Strategy (formerly MicroStrategy) now holds roughly 649, 870 BTC after purchasing an additional 8,178 BTC worth $835 million, reflecting its long-term accumulation strategy.
Ju’s point is that these institutional reserves, from corporate treasuries to passive funds, are driving prices as much as, if not more than, the old whale transactions.
The influx of TradFi liquidity is forcing analysts to revise the old cycle narrative. Both institutional and retail investors are turning to Bitcoin to hedge against Treasury-market vulnerabilities and ongoing fiat currency devaluation.
In light of these trends, Ju said it’s time to “throw out that cycle theory.” He wrote, “Instead of worrying about old whales selling, it’s more important to focus on how much new liquidity is coming from institutions and ETFs.”
In other words, the market’s focus has shifted from old-timer behavior to the question of how much new capital is arriving.
That does not mean on-chain data is useless – Ju stresses that “data is just data, and perspectives vary.” But analysts may need to adjust their frameworks.
Bitcoin’s Appeal Versus Fiat
This institutional-driven narrative also echoes broader sentiment that Bitcoin’s appeal is rising relative to traditional financial assets.
In other Bitcoin news, finance author Robert Kiyosaki recently highlighted why he prefers crypto to fiat. On X (formerly Twitter) he wrote, “My reason is: I do not trust the Federal Reserve Bank, US Treasury, or Wall Street.”
Kiyosaki said he avoids “fake” paper assets and instead invests in real assets “such as gold, silver and crypto because they cannot be created or manipulated by governments or banks.”
He added that he buys Bitcoin and Ethereum “knowing they can boom and bust, because the Fed, the US Treasury, nor Buffett can produce Bitcoin or crypto.”
In his framing, fiat government money is “Fake Money,” while Bitcoin and other cryptocurrencies are “People’s Money.”
Kiyosaki’s remarks – though coming from outside the on-chain analytics community – reinforce the view that confidence in traditional, inflation-prone assets is waning.
Overall, Ju’s analysis and other Bitcoin news coverage suggest a maturing crypto market. The shift from retail-driven swings to long-term institutional ownership could make Bitcoin less volatile over time.
For investors, this means that dips might be better viewed as buying opportunities, with institutional demand absorbing much of the selling, rather than signals of a looming collapse.
At the same time, the fading of old cyclical patterns means forecasting tops and bottoms may become harder. Traders will likely keep a close eye on data from CryptoQuant and others – looking at exchange inflows, ETF flows, and whale activity – to gauge when selling pressure abates.
Source: https://www.thecoinrepublic.com/2025/11/17/bitcoins-traditional-cycle-breaking-as-ownership-migrates-to-tradfi/
