Cryptoquant Chief Executive Ki Young Ju has revived a cycle-top debate with a new model-based conversation that places Bitcoin’s upper limit at around $ 208,000 per coin. Sharing cryptoquant’s “Price forecast based on realized dashboard” on X, Ki wrote: “Nobody gives my phone calls anymore, but only says that I am bullish on Bitcoin. Too many capital inflow inchain. Far too much.”
The post repeats its data-driven comments from the beginning of 2024, when he argued that “#bitcoin could reach $ 112k this year driven by ETF inflow, sausage case $ 55k.” That framework came remarkably close: Bitcoin then registered a height of 2024 above $ 108,000, close below his $ 112,000 projection.
Why Bitcoin price above $ 208,000 could be at the top
The graph Ki published on September 18 visualizes three time series derived from cryptoquant’s realized CAP methodology: the bargain price of BTC ($ 115,638.00) (black), a model “ceiling_price” (red) and a model “floor_price” (green).
From September 17, 2025 (UTC) the panel annotated a spot marker at $ 116,453, a ceiling at $ 208,310 and a floor at $ 41,662, showing the dashboard that it was “last run” two hours earlier. In other words, the model currently locates well above the derivative floor and still essentially under the band that it treats as an overvaluation zone.
The implication of the share of KI is not a guarantee, but a statement that, given the prevailing capital inflow on chains and the CAP structure realized, the market has room by extending this statistics to that $ 208,000 upper tire.
Realized CAP values The network by adding each coin for the price that it was last moved in the chain instead of the current market price, a construction that follows the costs of investors over time. Cryptoquant’s dashboard projects Dynamic “floor” and “ceiling” tires around places that have been framed historically multi -year extensions and contractions.
Ki’s renewed bullishness connects those bands with what he describes as increasing demand pressure visible in settlement flows and ETF-linked capital migration on the network. The continuity with his note of February 2024 is explicit: then he mentioned with exchange of product -entertaining product as the dominant driver from an advance to six figures; Now he points to “too many capital inflow inchain” while circulating a model that places the ceiling nearly $ 208,000.
It is remarkable that Ki does not present open prediction, but rather a model mapshot that updates with the market structure. The same dashboard that today prints a ceiling of $ 208,310 also marks the risk floor at $ 41,662, so that the spread of the results the CAP approach realized is presented. His track record with the guidelines of $ 112,000 “this year” – follows a print just above $ 108,000 – will inevitably color how traders receive the new message.
But the framing remains analytical: a data lecture from where Bitcoin is located in relation to the realized value envoy after a year and a half defined by the acceptance of the American spot ETF and the deepening of institutional participation. For now, Ki’s message is simple and bone-“I am bullish on Bitcoin” and anchored in the same lens on the chain that he used 10 months before the peak of 2024.
Whether the market ultimately approaches the $ 208,000 ceiling depends on how that intake on chains evolve against macro-liquidity, ETF and the demand of the treasury and the supply behavior of miners. What makes his graph clear is that Bitcoin has not yet tested the top of his statistical reach in this cycle due to the realized CAP bands of Cryptoquant.
At the time of the press, BTC traded at $ 116,173.
#Expert #nailed #Bitcoin #Top #call #BTC #Bitrss #Crypto #World #News