Even as $Bitcoin (BTC.CC)$ crossed $88,000, up nearly 11% in 24 hours and over 30% the past week, experts say that "euphoria has set into the market," suggesting prices could reach $100,000 before encountering serious resistance.
This rise has fueled significant liquidations totaling $655.12 million across long and short positions, sparking conversation about the factors driving Bitcoin's rally and its potential trajectory. BTC had set an all-time high of $88,364 at the time of publication.
According to data from CoinGlass, shorts worth $341.88 million got liquidated over the past 24 hours.
Speaking with Benzinga, Azeem Khan, co-founder of Morph, said, "Now that Bitcoin has crossed $85k, we're absolutely at the place where euphoria has set into the market." He cautioned against further buying due to the high likelihood of a future correction.
With factors like the Trump election win and talks of SEC leadership changes, Khan suggests that a run toward $100,000 could be imminent.
However, he added, "Where it goes from there is hard to say... since we're so early in euphoria I'd say we're back at the place where people who don't care about crypto from our families will be asking us what tokens to buy."
Kevin Lehtiniitty, CEO of Borderless.xyz, told Benzinga that Bitcoin's surge could impact stablecoins, which are often used as a store of value on trading platforms.
As Bitcoin's price rise brings more funds into the crypto market, stablecoins might see net outflows as traders reposition into other tokens.
"With the majority of stablecoin collateral invested in US Treasuries, this will create sell pressure in those instruments at a time when the Fed has just lowered rates," Lehtiniitty said, hinting at potential broader impacts on traditional finance markets.
Eneko Knörr, CEO of Stabolut, attributes Bitcoin's rise to a combination of historical patterns, scarcity, and strategic accumulation by large holders.
Knörr cited the recent Bitcoin halving and low exchange supply as crucial factors, noting, "Sources indicate that today the levels are ridiculously low, which could trigger a short squeeze and send Bitcoin much higher in a short time."
He added that "whales" have been accumulating substantial amounts of Bitcoin, with over 2,000 wallets now holding more than 670,000 BTC.
As experts debate the sustainability of Bitcoin's rally, these developments will be a focus at Benzinga's Future of Digital Assets event on Nov. 19
BTC Price Check: At the time of publication Monday, Bitcoin was trading $88,112.04, up 10.66% in the past 24 hours.
尽管价格已突破88,000美元，在过去24小时内上涨近11%，过去一周上涨超过30%，专家表示"市场已经陷入狂喜"，暗示价格可能在遇到严重支撑位之前达到100,000美元。 $比特币 (BTC.CC)$ 尽管价格已突破88,000美元，在过去24小时内上涨近11%，过去一周上涨超过30%，专家表示"市场已经陷入狂喜"，暗示价格可能在遇到严重支撑位之前达到100,000美元。
这一上涨导致了总计高达65512万美元的多头和空头头寸清算，引发了关于推动比特币涨势及其潜在轨迹的讨论。BTC在发文时创下了88,364美元的历史最高点。
根据CoinGlass的数据，过去24小时内，价值34188万美元的空头头寸被清算。
Morph联合创始人Azeem Khan在接受Benzinga采访时表示，“现在比特币突破了8.5万美元，市场已经充满了狂喜情绪。”他警告不要进一步买入，因为未来有可能出现大幅调整。
考虑到特朗普概念赢得选举和SEC领导层变动的因素，Khan建议，朝着100,000美元运行似乎是不可避免的。
然而，他补充说，“接下来会发生什么很难说……因为我们现在正处于狂喜情绪的早期阶段，我会说我们又回到了我们的家人那些不关心加密货币的人也会询问我们该买入哪些代币的地步。”
Borderless.xyz的首席执行官Kevin Lehtiniitty告诉Benzinga，比特币的激增可能影响稳定币，后者经常被用作交易平台上的价值储存。
随着比特币价格上涨，更多资金流入加密货币市场，稳定币可能会看到净流出，因为交易者重新配置到其他代币。
“由于大部分稳定币的抵押品投资于美国国债，在美联储刚刚降息的时候，这将在这些工具中产生卖压，” 来自Lehtiniitty的说法，暗示着可能对传统金融市场产生更广泛影响。
Stabolut的CEO Eneko Knörr将比特币的上涨归因于历史模式、稀缺性以及大持有人的战略积累。
Knörr cited the recent Bitcoin halving and low exchange supply as crucial factors, noting, "Sources indicate that today the levels are ridiculously low, which could trigger a 游戏驿站 and send Bitcoin much higher in a short time."
他补充说，“鲸鱼”一直在大量购买比特币，目前有超过2,000个钱包持有超过670,000个BTC。
专家们就比特币上涨的可持续性展开辩论，这些发展将成为Benzinga未来数字资产活动的焦点。
比特币价格查询：截至星期一发布时，比特币交易价格为88112.04美元，过去24小时上涨10.66%。
