The current "boring" Bitcoin market may be an excellent opportunity for investors

Ki Yong Ju, CEO of CryptoQuant, believes that Bitcoin remains in a bull market despite several significant corrections.

Currently Bitcoin is nearly 14% below its all-time high of $73,737 reached in March following significant inflows into spot ETFs.

Zhu characterized the current price action as "boring", suggesting that this is an excellent opportunity for investors to accumulate Bitcoin. He points out that market activity is very low, based on the Garman-Klass Realized Volatility measures.

# Bitcoin market is boring with less volatility.

= Less interest from both buyers and sellers.
= Retail exit liquidity not ready.
= Ideal time for whales to accumulate $ BTC .

= We're still in a bull cycle. Boring is an opportunity. pic.twitter.com/zccHAbOOHA

- Ki Young Ju (@ki_young_ju) July 1, 2024

Yesterday, Bitcoin managed to reach a high of $63,694 and at the time of writing it is trading at $62,850.

Travis Kling of Ikigai Asset Management mentioned that the recent correction is understandable due to oversupply concerns. Meanwhile, some analysts believe that Bitcoin has not yet peaked.

Fundstrat's Tom Lee still predicts that Bitcoin could reach $150,000. Similarly, Peter Brandt, a well-known commodities trader, also predicted that Bitcoin could reach a peak of $150,000 during this pazaren cycle.

However, Brandt notes that there is still a possibility that Bitcoin will not make a new high and fall to around $55,000.