Bitcoin’s Harshest Institutional Exit Test Still Leaves a $30,000 Floor, CryptoQuant CEO Says

By Isaac • October 18, 2026 11:13 am •

Bitcoin may be facing a colder institutional market than it did at the height of the last run, but one of the industry’s best-known on-chain analysts says the most brutal realistic washout still looks nothing like a return to four figures.

CryptoSlate reports that CryptoQuant CEO Ki Young Ju sees an on-chain floor near $30,000 even in an extreme scenario where the roughly $58 billion brought in by U.S. spot Bitcoin ETFs leaves and public companies unwind approximately 1.3 million BTC. That would still be a violent collapse from Bitcoin’s recent trading level near $82,000, but it is three times the $10,000 downside target floated by Bloomberg Intelligence strategist Mike McGlone.

The disagreement matters because it