On November 12, $Bitcoin (BTC.CC)$ Briefly reached the milestone of 0.09 million dollars to create a historical new high, followed by significant fluctuations, currently reported at 88,437 dollars. $Ethereum (ETH.CC)$ Once surged to 3,442 dollars, currently reported at 3,266 dollars.

According to Coinglass data, in the past 24 hours, the total number of liquidations across the network exceeded 0.26 million, with a liquidation total close to 1 billion dollars.Why is there continuous news about "liquidation" but bitcoin continues to reach new highs? The reasons behind it revealed! Click to view >>

Recently, the price of bitcoin has continuously hit historical highs, breaking through multiple key levels, with today's peak exceeding $0.09 million. In the near future, many institutions and analysts are bullish on bitcoin. Geoff Kendrick, global head of digital asset research at Standard Chartered Bank, recently stated that after Trump's victory, the price of bitcoin will reach $125,000 by the end of this year, and $200,000 by the end of 2025.

The co-founder of digital asset brokerage Zodia Markets, Nick Philpott, stated: 'Our target range for Bitcoin following the Trump election event is $0.075 million to $0.08 million, while inflows into ETF funds and a wide range of cryptocurrency funds are expected to push Bitcoin to $0.1 million in the early first quarter of next year, and possibly even earlier. In terms of options, there are a large number of call options with exercise prices ranging from $0.08 million to $0.1 million, which should further increase momentum.'

According to reports, bitcoin options traders have set their sights on $0.1 million. Data from the cryptocurrency options trading platform Deribit shows that investors are betting that bitcoin will reach this milestone by the end of the year. As of Monday morning, approximately 9,635 bitcoins (worth about $0.78 billion) had open contracts betting on bitcoin hitting $0.1 million before December 27, making it the largest trade for contracts expiring on that date. However, Deribit estimates that the probability of this contract being profitable at expiration is only 18.6%.

Nick Foster, founder of the Derive decentralized finance protocol, stated: "After the USA elections, the market experienced significant volatility, and traders have invested heavily in the $0.1 million call options expiring on December 27, making this trade one of the most noteworthy recent trades."

Despite an increasingly bullish outlook among investors, some cautious sentiment remains. Market analysts point out that there is still uncertainty regarding whether Trump will fulfill his cryptocurrency promises made during the campaign, and there has been no substantial progress. As future changes loom, traders need to remain vigilant about risks.

It is worth mentioning that driven by bitcoin, the total market value of global cryptocurrencies has surpassed $3 trillion for the first time since November 2021.

Additionally, due to strong recent demand from investors for cryptocurrencies, Blackrock's iShares Bitcoin Trust, which has a size of $35 billion, set a record for a single-day net inflow of nearly $1.4 billion last Thursday. Currently, the fund's total assets have surpassed Blackrock's other fund, the iShares Gold Trust, which has a size of $33 billion.

A broader range of data from Sosovalue shows that since November 5, over three trading days, a total of 12 spot bitcoin exchange traded funds (etf), including blackrock's IBIT and fidelity's FBTC, have seen a cumulative net inflow of 2.3 billion dollars.

Editor/Somer