Bitcoin’s price has been on a wild ride lately, causing some serious market shakeups.
A Wild 24 Hours for Bitcoin
The crypto market saw over $500 million wiped out in just 24 hours due to Bitcoin’s dramatic price swings. Long traders took the biggest hit, losing over $366 million, while short traders lost around $129 million. This happened after Bitcoin dipped from roughly $98,000 to a low of $95,500 before recovering.
The $100,000 Hurdle and Beyond
This volatility has been ongoing since Bitcoin neared the $100,000 mark on November 23rd. Investors are locking in profits as Bitcoin approaches this psychological price point, leading to these big liquidations. Despite the swings, some major players (whales) are still buying. For example, Marathon Digital recently purchased $572 million worth of Bitcoin.
Experts believe Bitcoin’s price could go much higher. VanEck, an asset manager, even predicts Bitcoin could hit $180,000!
Will Bitcoin Hit $100,000 Today?
Crypto analyst Ali Martinez thinks today might be the day Bitcoin finally breaks the $100,000 barrier. He points to bullish indicators like the SuperTrend and RSI. However, he doesn’t think $100,000 will be the peak. Based on historical trends, he suggests Bitcoin could reach its peak between June and September 2025. Other analysts like Rekt Capital share this long-term prediction.
As of now, Bitcoin is trading around $98,300. The ride continues!
