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CryptoQuant founder says bitcoin avoided fall into $20,000 range thanks to Strategy and ETFs

Ju Ki-young (주기영), head of CryptoQuant, said bitcoin could still be trading around $22,000 without buying by Strategy and spot bitcoin exchange-traded funds. He said they absorbed 1.24 million BTC sold by long-term holders over the past two years, though another user said the figure was 2.74 million BTC. U.S. spot bitcoin ETFs posted 13 straight sessions of net outflows through June 3, while institutional holdings fell 17 percent from the prior quarter.