Bitcoin surpasses $97k as Polymarket odds show a 72% chance of hitting $100k this month.
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Bitcoin has topped $10K since the start of 2026, fueling a broad rally in crypto markets and raising Polymarket's odds of 100K BTC in January to 72%. More than $780 million in liquidity outflows in the market over the past 24 hours, mostly from short positions in BTC and ETH, as traders moved higher.
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Bitcoin hit a new eight-week high on Wednesday, crossing $97,300 at a new pace in the crypto market. The rally continued with a strong start to 2026, with Bitcoin gaining more than $10,000 from an opening of around $87,000.
Traders seem set for more upside, with Polymarket odds now assigning a 72% chance of Bitcoin reaching $100,000 before the end of January.
The rally pushed the broader crypto market up more than 4% in the past 24 hours, raising the total market capitalization to $3.34 trillion. Ethereum near $3,400, Solana reached $148, and XRP reached $2.17, showing broad strength among major assets.
In the past 24 hours, crypto markets have moved $783 million in Bitcoin's rally. CoinGlass data shows that $682 million in shorts and $101 million in longs were cleared, with most of the impact concentrated in BTC and ETH futures.
