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cryptoJun 5, 2026, 6:41 PM

CryptoQuant CEO: Bitcoin Would Be Near $22K Without Saylor, ETF Absorption

CryptoQuant CEO Ki Young Ju stated that Bitcoin could be trading around $22,000 if not for the absorption of 1.24 million BTC by Michael Saylor and spot ETFs over the past two years.

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Ki Young Ju, CEO of on-chain analytics firm CryptoQuant, commented that Bitcoin's current price would be significantly lower without the buying pressure from institutional players. He estimates that without Michael Saylor's purchases and the inflow from spot Bitcoin ETFs, BTC would be closer to $22,000 today.

According to Ju, the market absorbed approximately 1.24 million BTC sold by original 'OG' whales over the past two years. This absorption prevented a deeper price decline and helped sustain higher levels.

The statement highlights the impact of large-scale institutional accumulation on Bitcoin's price dynamics during periods of selling from long-term holders.

Source: Cointelegraph