"The bitcoin price hit an eight-week high and triggered roughly $700 million in short liquidations, per Bitcoin Magazine Data. Polymarket now estimates a 73% chance that Bitcoin will reach $100K in January. After trading relatively sideways near the low‑$90,000 or lower for the last two months, the bitcoin price began gaining traction over the weekend, ultimately surging above $97,000 at the time of writing."
"The U.S. Consumer Price Index (CPI) report released on January 13 showed inflation moderating - a result that eased fears of further aggressive monetary tightening and boosted "risk‑on" sentiment (think bitcoin) in global markets. While stocks and traditional risk assets reacted modestly, Bitcoin's sensitivity to macro cues was evident as investors sought alternative stores of value and growth exposure. Stable inflation numbers have also alleviated concerns about elevated real yields, which historically challenge non‑yielding assets like Bitcoin."
Bitcoin broke out of a multi-week trading range and climbed above key psychological levels, reaching an eight-week high and triggering roughly $700 million in short liquidations. Market measures show elevated odds of Bitcoin hitting $100K in January. Price momentum carried Bitcoin above $97,000 after months of sideways action and reclaimed the $94,000–$96,000 zone, signaling a technical breakout. The rally coincided with moderating U.S. inflation in the January 13 CPI report, which eased tightening fears and supported risk-on sentiment. Stable inflation reduced concerns about elevated real yields, encouraging greater capital allocation toward crypto and amplifying bullish conviction.
Read at Bitcoin Magazine
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