[CryptoQuant Founder: MicroStrategy and ETF Buying Slowdown May Impact Market Dominance] CryptoQuant founder and CEO Ki Young Ju stated that Bitcoin whales have sold billions of dollars since the price reached $100,000. He previously judged that the bull market cycle had ended but delayed this conclusion due to inflows from MicroStrategy and Bitcoin spot ETFs. Ki Young Ju believes that if these buying forces weaken, the market may once again be dominated by sellers, as selling pressure remains heavy at present.