How Much New Money Does Bitcoin Need to Start a Fresh Bull Run? (It’s a Lot)

Bitcoin might still enter another major bull cycle, but the amount of money needed to fuel it has grown dramatically compared to previous bull markets, according to the CEO of CryptoQuant, Ki Young Ju. In a recent thread, he argued that the cryptocurrency’s capital efficiency has declined considerably as the asset has matured. In 2011, he said, roughly $2.7 billion in net capital inflows was enough to drive a r…