Bitcoin Breaks Above $87K as CryptoQuant Founder Sees 3–5x Bull Cycle

• Ki Young Ju of CryptoQuant expects Bitcoin price to deliver a 3x–5x gain in the current Bitcoin cycle, with improving Bitcoin data supporting the thesis
• Bitcoin price has moved above $87K as ETF inflows, short covering and improving market sentiment support the latest rally
• CryptoQuant’s Bitcoin data shows MVRV above 1, slower OG whale distribution and improving P&L metrics as the Bitcoin cycle develops

Bitcoin price has been making new moves lately and is now finally coming out of its period of prolonged volatility. The asset has been through signficant macroeconomics pressure. But the impact of it now seems to be fading gradually. Bitcoin price has finally moved above the $87K, bringing in a fresh wave of gains for its investors. At the same time, Cryptoquant founder Ki Young Ju expects that the current Bitcoin rally and bull cycle may end up delivering 3x to 5x gains, rather than another 10x-plus parabolic rally that Bitcoin has seen during some of its past bull runs.

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CryptoQuant BTC Signals Point to Different Market Cycle

Ju later emphasised in depth, talking about possible factors that may help lessen the Bitcoin price volatility. He shared how a larger market and growing institutional adoption may reduce the extreme price swings that the asset has been documenting as of late. Ju believes that this may also help Bitcoin encounter smaller upside moves, but this will also help the asset document less severe downturn movements.

The latest bitcoin data shared by Cryptoquant shows how several Bitcoin metrics on the platform have largely improved. Bitcoin’s MVRV has remained above 1 during this cycle, which means that the asset’s market value has been stated above the estimated realised value of the coins. Apart from this, OG whales have slowed their distribution, signalling less selling pressure from older holders. Bitcoin price is also gaining ground as futures whales accumulated aggressive long positions near cycle lows, while selling pressure has eased as of late.

Another leading metric pointed out by Cryptoquant is its P&L index, which has also been improving at a steady rate. This index gives a combined overview of the MVRV ratio, NUPL, and LTH/STH SOPR. In short, this helps assess Bitcoin’s broader cycle and holder profitability conditions. The steady improvement in bitcoin data metrics has helped the asset gain stability at the moment.

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Why Is Bitcoin Rising As Of Late?

The latest Bitcoin rally is a result of many factors. Firstly, the asset has been documenting renewed ETF momentum. This has helped the Bitcoin demand to gain a steady rise. This development has arrived after a period of uneven ETF flows, which had taken a toll on the asset. US spot bitcoin ETFs recorded nearly $999M worth of inflows on September 21, their strongest single-day inflow since October 2025.

Apart from this, the broader market conditions have also improved. Bitcoin has been rising alongside stronger tech stocks with renewed risk appetite. This has led the asset to gain solid ground. Moreover, Bitcoin’s break above $82K triggered short covering, putting additional buying pressure on the asset as it moved toward $87K.

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