CryptoQuant CEO: The Bitcoin market has not yet formed a bubble, and the target price could reach $141,000

ChainCatcher news, CryptoQuant CEO Ki Young Ju posted on X that the Bitcoin market has not yet entered a bubble phase. In terms of Realized Cap, the growth of market capitalization is not significant compared to the cumulative on-chain capital inflow. Based on the current steady upward trend of the Realized Cap, there is still room for Bitcoin's price to rise, with a target price of $141,000.

Ki Young Ju explained that Realized Cap measures the scale of market capital inflow by calculating the total value of all Bitcoins at the time of their last on-chain transfer. Historical data shows that during bull markets, market capitalization often exceeds Realized Cap and peaks when retail investors enter; while during bear markets, market capitalization may fall below Realized Cap.