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%.
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.
*This is not investment advice.