CryptoQuant founder: The cyclical top has not yet been reached, and retail investors have not yet fully entered the market

CryptoQuant founder Ki Young Ju revealed the current situation of the Bitcoin market on X.1. The Bitcoin market is showing short-term overheating.2. It has not yet reached the cyclical top; retail investors have not fully entered the market, and ETF demand needs to be monitored.3. It is currently correcting, and if it shrinks by a maximum of 30%, it will be $51,000. The average new whale (= ETF buyer) enters the market at $56,000.