CryptoQuant founder: BTC price drop is due to sell-off in derivatives market, not GBTC

Ki Young Ju, founder of CryptoQuant, posted on X platform, stating: "Accumulate Bitcoin like institutional investors. The reason for the decline in BTC price is due to selling in the derivatives market, not GBTC. The over-the-counter (OTC) market is very active, but it does not affect the price. When off-chain OTC trading and spot ETF activity decrease and re-accumulation is complete, the bull market will begin."