The CEO of the market intelligence platform CryptoQuant identifies key factors that may trigger significant demand for Bitcoin 
$97,879 and other cryptocurrencies. Ki Young Ju emphasizes the current optimistic regulatory environment in the United States, which he believes is the best it has been in Bitcoin’s 15-year history. He foresees that other countries will follow this trend, leading to increased demand and opportunities for Bitcoin, stablecoins, and the broader crypto market.
Favorable Regulatory Environment
Ju stresses that relaxed regulatory risks will pave the way for more demand. He also suggests that the potential re-election of Trump could positively impact cryptocurrency values, expressing confidence that Trump would strengthen Bitcoin’s position in the market.
“Trump will empower Bitcoin.”
Role of Coinbase Premium Index
However, Ju notes that for cryptocurrency to truly explode, there needs to be an improvement in the Coinbase premium index. He mentions that while there is high OTC volume and deposits, there are currently old “whales” selling Bitcoin, indicating a lack of pressure to drive the price up. A recovery in the premium index is essential for the next bullish trend.
“Who is selling Bitcoin now? Old whales. The next surge requires recovery.”
As of the report, Bitcoin is trading around $98,200, with a slight increase observed over the last 24 hours. These developments suggest that improvements in the regulatory environment and key market indicators could positively influence the future of cryptocurrency.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
