Massive Liquidations Push Bitcoin to $97,000!

Bitcoin has just reached a new all-time high (ATH) of 97,000 dollars late on the night of Wednesday, November 20, 2024. This significant event was observed after the price of BTC skyrocketed above its previous highs of 95,000 dollars in less than an hour!

A spectacular rise of Bitcoin and massive liquidations

The skyrocketing BTC price triggered a cascade of 100 million dollars in liquidations over the last 24 hours. Approximately 80% of these liquidations came from short sellers, meaning those who were betting on a price drop, according to recent data. The achievement of this new ATH at 97,000 $ for Bitcoin was partly fueled by several key factors.

• Introduction of spot ETFs: The beginning of 2024 saw the introduction of several exchange-traded funds (ETFs) in the United States. These financial products have allowed more investors to access Bitcoin, thereby increasing demand and market volatility.

• Launch of Bitcoin ETF options trading: November 19, 2024, marked the beginning of options trading on ETFs, adding a new layer of complexity and volatility to the market. These options allow investors to bet on future price movements, which can amplify market fluctuations.

Perspectives and implications

The recent surge in Bitcoin emphasizes how unpredictable the crypto market can be. Bitcoin is now very close to 100,000 dollars, a major psychological threshold. With the recent volatility and growing interest from investors, it is quite possible that this peak will be reached before December 2024. The next few days will be crucial to observe this trend.

The breach of the 97,000 dollar barrier by Bitcoin is a major event that reflects the rapid and often unpredictable evolution of the crypto market. With the introduction of spot ETFs and the launch of options trading, volatility has returned strongly this year. Investors must therefore remain vigilant and well-informed to navigate this constantly evolving financial landscape.