Bitcoin Bull Cycle Peak Could Be Driven by Global ETF Demand

Global ETF Demand Could Shape Bitcoin’s Cycle Peak

The peak of bitcoin’s current bull cycle could be driven by institutional capital and exchange-traded funds (ETFs) outside the United States, according to Ki Young Ju, founder and CEO of Cryptoquant, a cryptocurrency market analytics platform. He presented the forecast in an Aug. 27 post on X, identifying international market access as a potential source of demand after U.S. products helped broaden regulated exposure.

Ju stated:

“The peak of this bull cycle will likely be driven by institutional money and ETFs outside the US.”

He pointed to South Korea as an example of the barriers that remain outside the United States. He said the country has no spot bitcoin ETF, retail investors cannot buy foreign-listed spot bitcoin ETFs, and most companies remain unable to open exchange accounts to purchase $BTC. South Korea has started allowing corporate participation in stages, and a Financial Services Commission (FSC) roadmap sets out a phase for about 3,500 listed companies and qualified professional investors. Financial companies and other corporations remain excluded from that framework.

Ju illustrated how widespread retail access could signal the cycle’s peak: “This cycle’s top might be when a banker at a regional bank in Korea recommends a spot bitcoin ETF to a granny for her savings.”