Bitcoin 5% Surge Driven By Spot Buys, $100K On Horizon: Analysts
Bitcoin surged over 5% past $95,000, driven by spot buying, with analysts predicting a run toward $100,000 soon.Summary
Bitcoin experienced a rally, breaking above $95,000 and gaining 4.65% in 24 hours, which analysts like Will Clemente attribute to strong spot buying—purchases of the actual asset rather than derivatives. This spot buying is seen as a bullish indicator of real demand, leading to the liquidation of $269.21 million in short positions. Analysts, including Michael van de Poppe, are confident Bitcoin will reach the $100,000 level in the coming week, suggesting dips are buying opportunities and that the bull market is just beginning. The potential return to six figures could trigger retail FOMO, as crypto sentiment has been largely negative, with the Fear & Greed Index hovering near "Fear" for months. Polymarket currently gives Bitcoin a 51% chance of hitting $100,000 by February 1st.
(Source：Cointelegraph)