Bitcoin (BTC) has soared past the $93,000 mark for the first time in its history on Wednesday, liquidating traders for more than $700 million in the process.
According to crypto exchange data aggregator Coinglass, in the last 24 hours, $711,340,000 worth of positions have been liquidated, with short positions on BTC accounting for the largest losses.
Binance, the largest exchange in the world, has seen the most liquidations, followed by OKX and Bybit.
After reaching a high of around $93,400, Bitcoin has since corrected and is currently trading for $92,462 at time of writing, up 5.5% in the last 24 hours and 24% in the last week.
Several traders and analysts are now forecasting targets for BTC as the flagship cryptocurrency enters clear price discovery.
Pseudonymous analyst Dave the Wave tells his 147,000 followers on the social media platform X that Bitcoin is in the process of printing steep rallies that should send Bitcoin soaring past $100,000 and into the final stages of a “parabolic spike” that ends near the $130,000 level.
“The numbers are getting big, but still technically solid. A run to the top of the channel would see BTC break the psychologically important six-figure barrier. Once that’s broken, a parabolic spike is in the cards…
BTC technical target and possible parabolic territory…”
Rich Dad Poor Dad author Robert Kiyosaki recently revealed plans to continue accumulating Bitcoin until it crosses $100,000.
On the social media platform X, Kiyosaki says the $100,000 price point is a good place to stop accumulating because it is “not a time to get greedy.”
“Always remember….hogs get fat…pigs get slaughtered. Don’t be a pig.”
In a new essay, BitMEX founder Arthur Hayes says that incoming president Donald Trump’s administration will launch a massive quantitative easing (QE) and dollar-debasement campaign that can push BTC to $1 million.
According to Hayes, QE is needed to implement “Trump’s America First Plan” that seeks to increase the money supply to make it easier for banks to provide loans to companies that “re-shore critical industries (shipbuilding, semiconductor fabs, auto manufacturing, etc.).”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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