CryptoQuant’s CEO Reveals The Terms Of A Bull Run In Bitcoin: Here Are The Details!

CryptoQuant‘s CEO, Ki Young Ju, is the next bitcoin (BTC) pointed to a new indicator to watch out for to identify a parabolic bull run.

CryptoQuant CEO Ki Young Ju Says Bitcoin Bull Run May Begin Soon

In a tweet by the analyst, the stablecoin of the bull run USD Coin (USDC) He stated that it can start with a large amount of money flowing into the stock markets.

the next #Bitcoin parabolic bull run might begin when massive $USDC flows into exchanges.

For now, 94% of the USDC supply is outside exchanges, some of which are owned by TradFis like BlackRock, Fidelity, Goldman Sachs, etc.

They’ll move when they get orders from their clients. pic.twitter.com/Bqenvgugw1

— Ki Young Ju (@ki_young_ju) October 7, 2022

According to data recorded by Ju, 94% of USDC’s circulating supply is currently located outside of exchanges. This supply is largely BlackRock, fidelity and Goldman Sachs in the case of traditional financial institutions such as

Ju explained that when the clients of these institutions place orders for the distribution of USDC, the over-the-counter tokens will be distributed in the market, possibly triggering a bull run.

Ju also, unlike USDC, which is a favorite of institutional investors, BUSD and USDT He emphasized in a tweet that stablecoins such as

70% of the supply for BUSD is on exchanges. The USDT rate appears to be 25%. BUSD foreign exchange reserve is rising despite bear markets, indicating that crypto holders are hoarding some coins.

Recently, CEO Ju stated that investors are saving and anticipating a downturn in the market, pointing out that old Bitcoins currently account for 74% of the realized market value.

By the way, bitcoin‘s hash rate is another on-chain metric that signals strong investor confidence. According to data from YCharts, the Bitcoin hash rate, a measure of the amount of computing power to secure the network, has increased by over 90% in the past 12 months.

*Not investment advice.