Bitcoin bull cycle could gain 3–5x, CryptoQuant CEO says

BTCUSD — mildly bullish sentiment, but weak as a standalone catalyst. Ki Young Ju’s 3–5x outlook supports the case for a continued cycle, citing rising realized capitalization, MVRV staying above 1, and changes in large-holder positioning. But this is a forecast, not a defined price target: it gives no starting price or timeframe, so it cannot be translated into a BTCUSD objective.

The market-structure thesis is mixed: broader institutional participation could deepen demand and temper the size of future swings, but a larger market also needs more capital to generate the outsized gains of earlier cycles. The article itself notes that substantial drawdowns remain possible; institutional ownership does not rule them out.

For traders, the outlook gains weight if ETF demand and realized-cap growth persist without a sharp rise in leveraged long exposure. Watch those flows alongside MVRV and large-holder selling; deterioration would weaken the bullish interpretation. The 3–5x claim alone does not establish that the recovery is durable.