Bitcoin Bull Cycle Peak May Come From Outside the US

Cryptoquant founder Ki Young Ju thinks the peak of the Bitcoin bull cycle won't come from the United States. Instead, he believes institutional capital and ETFs deployed elsewhere will drive it.

Ju uses South Korea as an example, pointing out that despite its regulatory access issues, US-based Bitcoin ETFs have already pulled in nearly $57 billion in two years. In contrast, South Korea has no spot ETFs and limited retail access to foreign products.

Russia is also accelerating the adoption of Bitcoin, with Sberbank planning to accept BTC, ETH, and USDT as loan collateral from September 1st. This move is significant, given that Russia has historically kept its distance from crypto.