HOT MOMENTS: Bitcoin Soars – At an Eight-Week High, $100,000 on the Horizon, Here Are the Latest Data and Liquidations

Bitcoin, the leader of the cryptocurrency market, reached its highest level in nearly eight weeks with its latest surge.

According to Polymarket data, the probability of Bitcoin surpassing the $100,000 level in January is priced at 63%.

A chart showing the increase in BTC price.

According to the data, Bitcoin is trading around $96,800, having gained over 4.5% in the last 24 hours. The weekly increase exceeds 5%, and Bitcoin’s market capitalization stands at approximately $1.93 trillion.

The rise in Bitcoin wasn’t limited to price alone. In the last 24 hours, a total of $767 million in liquidations occurred in the cryptocurrency market. The majority of these liquidations, $666 million, were short positions. This indicates that the rise was significantly supported by a short squeeze effect.

According to Polymarket data, the probability of Bitcoin surpassing the $100,000 level in January is priced at 63%. However, the probabilities decrease gradually for higher targets: approximately 28% for $105,000, 9% for $110,000, 4% for $115,000, 2% for $120,000, and less than 1% for $150,000.