Bitcoin Surges to $95,250 Driven by Spot Buying Amid Market Speculation

Bitcoin Surges Past $95,000

  • Bitcoin surpassed $95,000, driven by real buying rather than derivatives trading.
  • Trading at $95,250, the cryptocurrency saw a 4.50% increase in 24 hours.
  • $269 million in Bitcoin short positions were liquidated, boosting the price.

Spot Buying Drives Momentum

  • Market analysts highlight spot purchases as the primary driver of the rally.
  • Short sellers faced liquidation, adding to the upward momentum.

Bitcoin chart

Predictions and Market Sentiment

  • Traders optimistic about Bitcoin reaching $100K soon.
  • Polymarket predicts a 51% chance of Bitcoin hitting $100,000 by February 1.

Historical Trends and Market Risks

  • Bitcoin typically gains around 4% in January and 13% in February since 2013.
  • Key support level identified at $90,000 amidst global economic uncertainties.

Retail FOMO Potential

  • Renewed interest in $100K could trigger retail FOMO, driving prices higher.
  • Potential for rapid buying from retail investors, but market volatility remains a risk.