Bitcoin, the dominant force in the cryptocurrency world, has climbed to its highest price point in nearly two months following a recent rally.
Data from Polymarket suggests there is a 63% chance that Bitcoin will exceed $100,000 by January.
Currently trading near $96,800, Bitcoin has surged more than 4.5% within the past day. Over the course of the week, its value has increased by over 5%, pushing its market capitalization to around $1.93 trillion.
The upward momentum was not limited to just price movements. In the last 24 hours alone, liquidations totaling $767 million took place across cryptocurrency markets. Notably, short positions accounted for $666 million of these liquidations, highlighting that a significant portion of this surge was driven by short squeeze dynamics.
Looking at Polymarket’s probability estimates for Bitcoin hitting various price milestones in January: there is about a 28% chance it will reach $105,000; roughly 9% for hitting $110,000; approximately 4% likelihood for surpassing $115,000; around 2% chance to cross $120,000; and less than a one percent probability of reaching as high as $150,000.
Please note: This information does not constitute financial advice.