Bitcoin Christmas Miracle: Price Approaches $100,000, Shorts Liquidated
Brothers, stay tuned, we will start broadcasting soon, analyzing market dynamics online.
On the eve of Christmas, Bitcoin is once again approaching the $100,000 mark. According to CoinGecko, the current trading price of Bitcoin is $98,703. In just a few hours, the price of Bitcoin soared nearly 6%, with many experts playfully dubbing this extraordinary performance the 'Christmas Miracle'.
With the surge in Bitcoin's price, the holiday atmosphere for short sellers may become particularly tense. According to CoinGlass data, about $61 million in Bitcoin shorts were forcibly liquidated in the past four hours. This sudden price fluctuation marks a short-term failure for shorts in the market and hints at a strong rebound.
In addition to Bitcoin's strong performance, the S&P 500 index also rose by 1%, while the tech-heavy Nasdaq 100 index increased by 1.3%. These performances indicate a renewed interest from investors in risk assets.
Bitcoin's recent rise is also a notable development, as Bitcoin bulls struggled to regain momentum following hawkish statements from the Federal Reserve. Last week, major risk assets, including Bitcoin, saw significant declines due to market expectations that the Fed might implement fewer rate cuts in 2025. However, despite this adjustment period, Bitcoin's rebound before Christmas has undoubtedly given bulls new confidence.
Despite the recent price surge, Bitcoin's price is still down about 9% from the all-time high of $108,135 on December 17. Nevertheless, compared to the $43,000 before last Christmas and the $16,000 after the FTX collapse in 2022, the current price performance shows significant improvement. So far, Bitcoin has risen nearly 140% in 2024. Some experts, such as Anthony Scaramucci, founder of SkyBridge Capital, even believe that Bitcoin's price could double by 2025.
Although Bitcoin's increase this week is only 1%, bulls still need to ensure that the price can continue to rise in the remaining week, maintaining strength by the end of the month. As interest in Bitcoin gradually recovers, the next few days may determine its short-term trajectory.
#比特币 #加密货币 #圣诞奇迹 #空头清算 #加密市场