On Tuesday, Bitcoin climbed above $95,000 to about $95,200 after a surge in spot buying, raising hopes it may retest $100,000. Analyst Will Clemente said the rally was led by spot buying, and CoinMarketCap data shows BTC trading near $95,200.
Short sellers were hit hard, with about $269.2 million in Bitcoin short positions liquidated. That count comes from CoinGlass data.
Spot buying reflects purchases of the underlying asset rather than derivatives. This trend is bullish for holders and may support higher prices.
Michaël van de Poppe of MN Trading Capital wrote “quite clear that this is going to run to $100K in the coming week and that dips are for buying.” He also added “the bull market hasn’t died, it’s about to start.”
Polymarket shows roughly 51% odds Bitcoin reclaims $100,000 by Feb. 1, and about 23% for $105,000. Historically, January averages a 4.18% gain while February averages about 13.12%.
Santiment stated “There will likely be retail FOMO creeping in if crypto’s top asset begins teasing $100K in the next few days,” as sentiment remained weak after roughly $19 billion in market liquidations in October. The Crypto Fear & Greed Index currently posts a fear score of 26, per the index.
