Bitcoin’s price is all the rage right now, charting one all-time high after another and raging on during its price discovery phase.

At the time of this writing, the cryptocurrency exploded above $88,000, increasing by a massive 10.6% in the past 24 hours alone.

Last week, when Donald Trump won the 2024 US Presidential Elections, CNBC analysts predicted that Bitcoin’s price will reach $100K by the end of the year.

Interestingly enough, there’s a market for that on Polymarket – the most popular crypto prediction platform, and the odds of it happening are also going sky-high.

Currently trading at $88,000, Bitcoin is just 12% away from the coveted target that will surely go down in crypto history.

Meanwhile, the derivatives market is as heated as ever, with liquidations soaring past $120 million in the past 4 hours alone. The overwhelming majority of these ($109M) stem from overleveraged short positions.