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Gate Square New & Returning Creator Rewards are ongoing!
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Bitcoin rallies past $97K as Polymarket odds show 72% chance of hitting $100K this month
Source: CryptoNewsNet Original Title: Bitcoin rallies past $97K as Polymarket odds show 72% chance of hitting $100K this month Original Link: https://cryptonews.net/news/bitcoin/32277889/
Market Movement
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.
Broader Market Rally
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.
Liquidation Data
In the past 24 hours, crypto markets saw $783 million in liquidations, driven by Bitcoin’s rally. 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.