Traders raise bets on $100K milestone as BTC jumps from $87K year open to $97.3K, lifting majors and sparking $780M in liquidations.
Bitcoin surged to a new eight-week high on Wednesday, crossing $97,300 amid renewed momentum across the crypto market. The rally continues a strong start to 2026, with Bitcoin gaining over $10,000 since opening the year near $87,000.
Traders appear to be positioning for further upside, with Polymarket odds now assigning a 72% chance of Bitcoin reaching $100,000 before the end of January.
The rally lifted the broader crypto market by over 4% in the past 24 hours, pushing total market capitalization to $3.34 trillion. Ethereum climbed near $3,400, Solana hit $148, and XRP reached $2.17, reflecting broad-based strength among major assets.
In the past 24 hours, crypto markets saw $783 million in liquidations, driven by Bitcoin’s rally. CoinGlass data shows $682 million in shorts and $101 million in longs were wiped out, with most of the impact concentrated in BTC and ETH futures.
