TL;DR
- Bitcoin could hit $135,000 according to CryptoQuant CEO.
- Retail investor participation in the market is growing.
- Warns of risks due to high leverage in BTC futures.
The Bitcoin market continues to show a strong bullish trend in 2024, with projections suggesting that the cryptocurrency could reach historic levels.
CryptoQuant CEO Ki Young Ju recently revised his prediction and claimed that Bitcoin could hit $135,000, noting that the current capital inflow and growing interest from retail investors are driving this rise.
Retail investors are coming: #Bitcoin transaction volume under $100K hit a 3-year high. pic.twitter.com/S0pG6eErlY
— Ki Young Ju (@ki_young_ju) November 18, 2024
According to data from CryptoQuant, transactions under $100,000 have reached a three-year high, an indicator of growing enthusiasm among small investors.
The original source of this information, shared by Ki Young Ju on his social media and reported by specialized media, points out that the BTC futures market is more leveraged than ever, with a ratio of 2.7 times more leverage than at the beginning of the year.
This has raised concerns as a massive liquidation of long positions could cause strong downward pressure on prices.
Although Ju admits that corrections could occur in the short term, he remains optimistic about the future of Bitcoin.
The analyst believes the market is in the early stages of a new bull cycle, with the potential to attract even more demand once the price hits $ 100,000.
At this point, a buying spree driven by retailers’ fear of being left out of the market (FOMO) is expected.
The Bitcoin Road to $135,000
Ju stressed that this potential growth will not be without challenges.
Excessive leverage in futures markets could amplify volatility, especially if prices fall and trigger automatic liquidations.
However, activity by large investors, known as “whales,” has remained relatively quiet, which could indicate that they are waiting for higher levels to make significant moves.
On the other hand, the interest of retail investors suggests a change in market dynamics.
This group has gained prominence in recent price increases, and its participation could be key to reaching new all-time highs.
As Bitcoin approaches $100,000, the impact of these small investors’ decisions could make a difference in the market.
Although optimism reigns in Bitcoin projections, experts like Ki Young Ju call for caution.
The risks associated with leverage and volatility should not be ignored, but the current momentum seems to point towards a new milestone for the world’s leading cryptocurrency.
