Scott Melker, host of The Wolf Of All Streets podcast, posted on X on Saturday, October 17, 2026, quoting CryptoQuant founder Ki Young Ju regarding a potential price floor for Bitcoin. Melker’s post stated: "CRYPTOQUANT FOUNDER KI YOUNG JU SAYS $BTC FLOOR NEAR $30K EVEN IF ALL $58B ETF INFLOWS AND 1.3M $BTC TREASURY HOLDINGS EXIT, CITING ON-CHAIN COST BASIS". This assessment suggests a robust underlying support level for the digital asset, even in a scenario of substantial market pressure from institutional and corporate sell-offs.
Bitcoin is currently trading around $82,000, according to recent market data. This follows altcoins have seen a jump in value, with Bitcoin maintaining its position. Recent coverage also noted Sui's Hashi launching a Bitcoin Collateral Network with $500 million in commitments, indicating ongoing development and integration within the broader crypto finance sector. The Crypto Fear & Greed Index is at 55, signaling a 'Greed' sentiment in the market.
Ki Young Ju's analysis, as shared by Melker, implies that Bitcoin's fundamental value, derived from its on-chain cost basis, could provide a strong defense against severe downturns. The specified $30,000 floor suggests a significant buffer below current prices, even if substantial capital from exchange-traded funds and corporate treasuries were to exit the market. Investors may view this as an indication of Bitcoin's long-term resilience, independent of short-term institutional flows.
