CryptoQuant CEO: Unsure if Bitcoin Has Bottomed, Still Far from Bottom from a Traditional Cycle Perspective

Ki Young Ju, CEO of CryptoQuant, stated on the X platform that he is unsure whether Bitcoin is at a cycle bottom. A logarithmic chart he released indicates that, from a traditional cycle perspective, Bitcoin still appears far from a bottom, with each major cycle having touched the realized price before; if this time it does not, perhaps "it's different this time." When the price approaches the cost basis of investors, the risk-reward ratio significantly improves.