Ki Young Ju, the CEO of CryptoQuant, has updated his Bitcoin price predictions, projecting a ceiling of $135,000 and a target of $112,000 for 2024 based on current market trends. He emphasized the role of capital flows from exchange-traded funds and products supporting these forecasts, while warning traders about the potential for corrections due to an overleveraged futures market. Ju highlighted that the perpetual market for BTC-USDt is approximately 2.7 times more leveraged than earlier in 2024, which can lead to downward pressure on Bitcoin prices during liquidations. Other analysts have differing views; while some believe Bitcoin is in a bull market and will continue to rise, there are concerns about the sustainability of price increases. Long-term holders are reportedly expecting higher prices before realizing profits, moving the focus on Bitcoin's ability to sustain its recent upward momentum amid varying predictions about future corrections.

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