If Bitcoin Surpasses $100K, This CEO Will Happily Recant His Bear Market Prediction

Ki Young Ju, Founder and CEO of on-chain analytics platform CryptoQuant, expressed his willingness to admit a major forecasting error if Bitcoin BTC/USD surpasses $100,000.

In a post on X (formerly Twitter), Ju acknowledged that Bitcoin is currently trading 10% higher than when he previously declared the end of the bull cycle.

Despite this increase, he remains cautious and stated, “If it breaks above $100K, I’ll gladly admit I was wrong.”

Ju’s recent comments on X reflect his earlier analysis, where he highlighted a potential market peak based on historical on-chain data.

CryptoQuant’s proprietary PnL Index chart, which tracks Bitcoin’s price against on-chain profitability metrics over the past decade, recently issued a sell signal similar to previous instances in 2013, 2017, and 2021, each preceding significant corrections or consolidation.

“We are likely beyond the bull cycle peak,” Ju had warned, anticipating sideways or bearish movement for the next six to twelve months. However, despite a recent 10% drop, Bitcoin’s price has risen by 10% from his initial prediction.

These comments come amidst a volatile week in crypto markets.

As of Thursday evening European time, Bitcoin is trading around $93,000, experiencing a 1% decline for the day.

Other cryptocurrencies, such as Ethereum ETH/USD, XRP XRP/USD, BNB BNB/USD, and Solana SOL/USD, are either trending downwards or trading flat.

Ju emphasized that short-term market movements are increasingly triggered by event-driven reactions, making them challenging to interpret using traditional on-chain cycle indicators.

He stated, “My focus is on long-term supply and demand using on-chain data, but with a market that reacts to every Trump comment, short-term price actions are much more event-driven.”

Should Bitcoin reach a new all-time high before the fourth quarter, Ju will need to reconsider prevailing cycle theories, acknowledging that the permabulls were correct in that scenario.

Analyst Iliya Kalchev of Nexo Dispatch commented on broader market influences, mentioning key economic data releases that could impact risk appetite amid trade policy uncertainty.

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