According to Ki Young Ju, capital inflows into Bitcoin have dried up and liquidity channels are now more diverse, making the timing of inflows pointless, source: Ki Young Ju (@ki_young_ju) on X, Jan 8, 2026. He states that long-term institutional holders have disrupted the prior whale-to-retail sell cycle in BTC, source: Ki Young Ju (@ki_young_ju) on X, Jan 8, 2026. He adds that MicroStrategy MSTR is not dumping any significant portion of its reported 673k BTC, source: Ki Young Ju (@ki_young_ju) on X, Jan 8, 2026. He says capital has rotated to stocks and shiny rocks and he does not expect a 50% or greater drawdown from the all-time high, anticipating a few months of sideways action in BTC, source: Ki Young Ju (@ki_young_ju) on X, Jan 8, 2026. He cautions that shorting here in hopes of a sharp crash is unlikely to pay off, source: Ki Young Ju (@ki_young_ju) on X, Jan 8, 2026.