Bitcoin Price 13.6% Away from $100,000, Bullish Odds on Polymarket Increase

Bitcoin price is on a roll right now, hitting one all-time high after another and continuing through its price discovery phase.

At the time of writing, the cryptocurrency exploded above $88,000, rising 10.6% in the last 24 hours alone.

Source: TradingView

Last week, when Donald Trump won the 2024 US presidential election, CNBC analysts predicted that the price of Bitcoin will reach $100,000 by the end of the year.

Interestingly, there is a market for this on Polymarket, the most popular crypto prediction platform, and the odds of it happening are also very high.

Source: Polymarket

Currently trading at $88,000, Bitcoin is just 13.6% away from the coveted goal that will surely go down in crypto history.

Meanwhile, the derivatives market is as hot as ever, with settlements exceeding $120 million in the last 4 hours alone. The vast majority of these ($109 million) came from leveraged short positions.

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