Moreover, a staggering sum of 42,000 investors faced liquidation, and the most substantial liquidation event unfolded on the renowned cryptocurrency exchange BitMEX. Astonishingly, an individual skillfully executed XBTUSD transactions amounting to an impressive $4.80 million. Ki Young Ju, the esteemed founder of CryptoQuant, confidently declared that Bitcoin is currently positioned within the heart of a flourishing bull cycle. Intriguingly, the disparity in the growth rates of on-chain data strongly foreshadows the conclusion of this prosperous bull cycle, which is projected to transpire by April of the forthcoming year.
