Bitcoin Soars Past $93K As Over $700 Million Liquidated
Bitcoin (BTC) surpassed $93,000 for the first time in its history on Wednesday, triggering over $700 million in liquidations. According to Coinglass, a crypto exchange data aggregator, a total of $711.34 million in positions were liquidated within 24 hours, with short positions on Bitcoin accounting for the majority of the losses.
Solid Fundamentals
Binance saw the most liquidations, followed by OKX and Bybit. After peaking at around $93,400, Bitcoin corrected slightly and is currently trading at $92,462, reflecting a 5.5% increase over the past 24 hours and a 24% rise in the past week.
As Bitcoin enters a phase of price discovery, traders and analysts are predicting future price targets. Pseudonymous analyst Dave the Wave told his 147,000 followers on X (formerly Twitter) that Bitcoin is on track for significant rallies that could push it above $100,000 and potentially lead to a parabolic spike reaching as high as $130,000. He emphasized that while the numbers are becoming larger, the technicals remain solid, and a move past the six-figure mark could trigger a sharp rally.
No Time For Greed
In addition, Robert Kiyosaki, author of Rich Dad Poor Dad, shared plans to continue accumulating Bitcoin until it hits $100,000, cautioning against greed and advising followers not to be a pig after that point.
In a separate commentary, BitMEX founder Arthur Hayes speculated that a future administration under Donald Trump could initiate a large-scale quantitative easing (QE) program to support economic policies aimed at reshoring critical industries. Hayes suggested that such measures could drive the price of BTC to $1 million due to the resulting inflationary pressures on the dollar.
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