CryptoQuant CEO: The Bitcoin cycle price bottom may be around $56,000

According to the latest analysis by CryptoQuant founder Ki Young Ju, signs of large investors exiting the Bitcoin futures market have emerged, with retail investors currently in control. Data shows that the Coinbase Premium has dropped to a nine-month low, ETF funds have seen net outflows for three consecutive weeks, and on-chain realized market cap growth has stagnated.

Although the short-term market is weak and there is insufficient dollar liquidity, analysts expect that Bitcoin inflows will not completely stop within the next six months. If the cycle theory holds, the bottom for Bitcoin prices may be around $56,000. Currently, the cost basis for Binance deposits is $57,000, indicating that traders have gained substantial profits from ETF and institutional fund inflows.