Ki Young Ju, the founder and CEO of renowned blockchain analytics platform CryptoQuant, surprisingly bucked the ongoing uptrend with a contrarian prediction regarding Bitcoin’s future performance.

With Bitcoin riding a wave of consecutive gains over the past few days, industry observers naturally anticipate further appreciation in Bitcoin’s value.

In a recent tweet, Ki Young Ju suggested that the market may be poised for a sharp reversal, with a potential bear run looming in 2025, following the anticipated year-end rally.

I expected corrections as BTC futures market indicators overheated, but we’re entering price discovery, and the market is heating up even more.

If correction and consolidation occur, the bull run may extend; however, a strong year-end rally could set up 2025 for a bear market,…

— Ki Young Ju (@ki_young_ju) November 10, 2024

Ki Young Ju Predicts Potential Dip Below $60k by End-2024

Ki Young Ju’s latest predictions come after a string of tweets earlier where he suggested Bitcoin’s price might drop below $60,000 by the end of 2024.

He sparked engagement on X by inviting followers to share their 2024 year-end Bitcoin price predictions, offering 0.1 BTC to the most accurate forecaster. Subsequently, he revealed his prediction, estimating Bitcoin’s value to drop to $58,974 by the end of 2024.

According to the CryptoQuant CEO’s forecast, Bitcoin’s value may experience a significant decline of approximately 27.9% by year-end, considering its current trading price of just over $81,000, as per CoinMarketCap data.

Bear or Bull Run?

The CryptoQuant CEO cited the reason for the potential bear run as being the overheated futures market.

With Donald Trump winning the 2024 US presidential election, Bitcoin has soared to new heights, going from $69,000 at the beginning of the past week to $81,000 currently.

This explosive rally has fueled a bullish sentiment in the Bitcoin derivatives market, with open interest in perpetual and futures markets revealing a strong appetite for leveraged long positions. Investors are eagerly opening positions, willing to pay premiums for leveraged exposure to BTC, as expectations grow that the crypto asset could surge to $100,000 or more.

Ki Young Ju warns that Bitcoin’s current rally might lead to a bear run in 2025 unless the market experiences a correction and consolidation, which could prolong the bull run.