CryptoQuant CEO: Bitcoin price may fall below $59,000 by the end of the year due to "overheated" futures market

Ki Young Ju, CEO of CryptoQuant, believes that the price of Bitcoin at the end of the year may be slightly lower than $59,000, and pointed out that the overheated futures market is one of the main reasons for the end-of-year crash.

Ki recently posted on X, stating that he expects the price of Bitcoin at the end of the year to fall to $58,974, while asking others for their opinions on the year-end price, and adding that he will pay 0.1 BTC to the person with the closest answer.

He said: "I expect the Bitcoin futures market indicators to be overheated, so there will be adjustments, but we are entering the price discovery stage, and the market is further heating up. If there is a pullback and consolidation, the bull market may continue; however, in my opinion, the end-of-year crash may lay the groundwork for a bear market in 2025. I hope my prediction is wrong."