Bitcoin Price Explodes Past $97,000 as Traders Set Sights on $100,000
Bitcoin surged past $97,000, breaking a multi-week range, driven by easing inflation data and institutional inflows.Summary
The Bitcoin price experienced a significant rally, surpassing $97,000 and exiting a multi-week trading range, triggering about $700 million in short liquidations, with Polymarket estimating a 73% chance of reaching $100K in January. This surge is attributed to a combination of technical breakouts above the $94,000–$96,000 zone, positive macroeconomic signals like moderating U.S. CPI data easing fears of aggressive tightening, and geopolitical risks (like unrest in Iran and a DOJ investigation into the Fed Chair) boosting safe-haven demand for BTC. Furthermore, renewed institutional interest, evidenced by significant spot Bitcoin ETF inflows and a massive $1.3 billion BTC purchase by Strategy Inc., is underpinning the bullish momentum. While resistance is noted near $100,000, market sentiment is improving, suggesting potential for further gains.
(Source：Bitcoin Magazine)