On February 19, Ki Young Ju, CEO of CryptoQuant, said that he does not believe that Bitcoin will enter a bear market this year and is still in a bull market cycle. He pointed out that the price of Bitcoin will eventually rise, but the fluctuation range may be large. He personally believes that even if the price falls by 30% from its all-time high (such as $110,000) to $77,000, the bull market cycle may still continue, which is consistent with past market cycles. In addition, he mentioned that Strategy (formerly MicroStrategy) has a bitcoin cost benchmark of $65,033. Previously, it was reported earlier today that CryptoQuant CEO: The cost basis for BTC in an ETF or custodial wallet is $89,000.