Bitcoin (BTC): Bull Run Not Over, Massive ETFs Flows Coming, CryptoQuant CEO Says

• Bitcoin (BTC) bull run not over, massive inflows ahead: CryptoQuant CEO
• Bitcoin ETF AUM breaks above $120 billion again As Bitcoin (BTC), the largest cryptocurrency, sees its price touching $104,000 for the first time since late January, and one of the most alarming predictions of a bull market end is invalidated. Bitcoin's (BTC) performance in this cycle is formed by a more diverse range of catalysts, CryptoQuant CEO says.

Bitcoin (BTC) bull run not over, massive inflows ahead: CryptoQuant CEO

The Bitcoin (BTC) bull run is continuing, selling pressure is losing steam and massive inflows are on their way to Spot Bitcoin ETFs. As such, the previous pessimistic forecast has proven to be wrong, CryptoQuant CEO Ki Young Ju shared in a detailed X post today, May 9, 2025.

He admitted that this Bitcoin (BTC) cycle has its own rules that make it look different from previous rallies. Earlier, Bitcoin's (BTC) impetus was formed by old whales, miners and new retail investors. Once new retail's optimism was over, "fat cats" were cashing out, and that was the end for the run.

To cash out together with the biggest holders was the endgame goal for every investor. However, in this cycle, the processes are influenced by Bitcoin Spot ETFs investors, governance agencies and so on. As such, the moment might have come to drop the very concept of cycles, the analyst says:

However, It feels like it’s time to throw out that cycle theory. New liquidity sources and volume are becoming more uncertain, signaling a transition as the Bitcoin market merges with TradFi. Now, instead of worrying about old whales selling, it’s more important to focus on how much new liquidity is coming from institutions and ETFs since this new influx can outweigh even strong whale sell-offs.

At the same time, Ki Young Ju avoided calling present price action a clear bullish season. At least, it is too early to call this present moment a profit-taking point.

Bitcoin ETF AUM breaks above $120 billion again

In the last four days, Bitcoin (BTC), the largest cryptocurrency, added over $10,000 to its price. The largest crypto hit it local high at $104,116, the highest since Jan. 30.

The May 8 session was one of the most painful for Bitcoin (BTC) bears in recent years. Per CoinGlass data, bears lost $400 million due to liquidations, which is over 90% of all positions erased.

Spot Bitcoin ETFs registered a very successful recent weeks. Since mid-April, they closed only three sessions with a negative inflow/outflow ratio. As a result, Bitcoin Spot ETFs' AUM exceeded $120 billion.