PANews reported on February 1st that CryptoQuant CEO Ki Young Ju posted on the X platform that Bitcoin's price continues to fall due to persistent selling pressure and a lack of new capital inflows. Early holders held substantial unrealized profits due to buying from ETFs and MSTR. They began taking profits early last year, but strong inflows kept Bitcoin's price around $100,000. Now, those inflows have dried up.

However, Ki Young Ju also pointed out that MSTR is the main driver of this upward trend. Unless Saylor significantly sells off his holdings, the market will not experience a 70% plunge like in previous cycles. The market bottom is not yet clear, but this bear market may result in a wide range of sideways consolidation.