30s Summary

Bitcoin’s rapid price fluctuation, peaking at over $89,000, led to the liquidation of over $600 million in futures. Other cryptocurrencies, like DOGE, SOL, and APT, also faced large futures losses. The surge in price followed the U.S. presidential elections. Some experts predict Bitcoin’s market cap could reach $10 trillion by 2026, with a possible price of $100,000 by year-end. However, others caution of a possible major setback if Bitcoin surpasses the $90,000 level.

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Bitcoin recently experienced a rapid price change, peaking at over $89,000 and then slipping back to $87,000. This fluctuation led to more than $600 million in futures being liquidated. It’s the most volatile Bitcoin’s been since its price briefly rocketed above $73,000 earlier in the year.

Different cryptocurrencies, like DOGE, SOL, and APT faced heavy futures losses as well. DOGE had its largest liquidations within this year.

Bitcoin’s price shot up by more than 7% within 24 hours after an already bullish weekend. This upbeat mood continues from the previous week when Donald Trump won the U.S. presidential elections.

Some financial specialists suggest that Bitcoin’s market cap could potentially rise to $10 trillion by the end of 2026, up from the current $3 trillion. They also predict a Bitcoin price target of $100,000 by the end of this year.

However, other traders warn of an imminent price correction and caution that there’s a risk of a significant setback if Bitcoin surpasses the $90,000 mark. They also suggest that Bitcoin’s climb from its current levels to $100,000 might be slower-paced.