CryptoQuant CEO predicts Bitcoin may end year under $59k due to overheated futures market
According to CryptoQuant CEO Ki Young Ju, Bitcoin may experience a year-end drop below $59,000 due to an overheated futures market. Ki expects Bitcoin to close the year at $58,974 and is offering 0.1 BTC to the person with the closest prediction. Despite record levels of open interest on Bitcoin derivatives, Collective Shift CEO Ben Simpson believes a pullback to $58,000 is unlikely due to increasing demand and a strong market structure. The price of Bitcoin has surged 17.3% in the last seven days, reaching a new all-time high of $81,570 on Nov. 10.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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