BTC Smashes $100K: What’s Next in the Wild Ride? 🤔
Bitcoin crossed the highly anticipated $100,000 milestone, peaking at $103,620 earlier today. This milestone triggered a short squeeze, leading to $90 million in liquidations within two hours, and aggressive buying by short sellers stabilized the price just below $103,000.
Market volatility surged across all tenors, with front-end vols rising 10 points and back-end vols 5 points, though easing slightly later in the day. Traders’ reactions diverged: front-end traders scrambled to cover shorts, while mid-tenor traders, already positioned for the rally, were less reactive.
BTC now enters a new price discovery phase, where market dynamics suggest a binary outcome—either a push higher or a retreat below $100,000 driven by selling pressure.
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