Is Bitcoin's Rise to $110,000 Inevitable? Over $16 Billion in Leveraged Shorts Threatened at $99,900
With a significant amount of leveraged shorts at risk of liquidation and robust institutional buying, Bitcoin (BTC) may be on the verge of reaching new heights.
Is Bitcoin on course to reach $110,000? With $16 billion in leveraged shorts facing liquidation and strong institutional investments, BTCUSDT could be on the brink of all-time highs.
Earlier this week, Changpeng Zhao, the founder of Binance, urged retail investors to buy Bitcoin, suggesting they have had ample time to invest.
In an interview, Zhao forecasted that Bitcoin could rise to $500,000 by year-end. It’s uncertain, but if momentum continues, BTCUSDT might soar to $1 million by next year.
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Short Squeeze to $110,000?
Data indicates that bulls are gearing up. An analyst noted that $16 billion in leveraged shorts will be liquidated if Bitcoin exceeds $99,900.
With bulls gaining traction and Bitcoin rising, the expected short squeeze could lead prices beyond $100,000 and possibly $110,000 if the bullish trend continues. Historical patterns show that Bitcoin usually takes 211 days to achieve a new high after a previous peak.
Moreover, onchain data supports the optimistic outlook, showing that new whales are accumulating Bitcoin at a rapid pace, surpassing the holdings of long-term investors for the first time.
