CryptoQuant CEO: The current Bitcoin market has not yet formed a bubble, and the target price could reach $141,000

BlockBeats News, November 24th, CryptoQuant CEO Ki Young Ju posted on Twitter stating that the Bitcoin market has not entered a bubble phase yet. From the perspective of Realized Cap, the growth of market capitalization is not significant compared to the cumulative on-chain inflows. Based on the steady increase in the current Realized Cap, Bitcoin still has room for upward movement, with a target price of up to $141,000.

Ki Young Ju explained that Realized Cap measures the scale of market inflows by calculating the sum of the value of all Bitcoins at their last on-chain movement. Historical data shows that during bull markets, the market capitalization often exceeds the Realized Cap and peaks when retail investors enter the market; whereas during bear markets, the market cap may drop below the Realized Cap.