The Bitcoin price reached levels close to $97,000 this Wednesday, its highest point since mid-November. This upward movement has severely punished bearish traders, accumulating total liquidations of nearly 800 million dollars in the last 24 hours. According to CoinGlass data, the massive buying pressure forced the closure of short positions valued at 690 million dollars globally across all exchanges.
On the other hand, the leading cryptocurrency recorded a 5% gain in the daily session and regained ground after months of volatility. The bullish momentum of the digital asset dragged other coins like Ethereum and Solana toward positive figures. Likewise, the macroeconomic environment and the progress of favorable laws have strengthened the confidence of institutional and retail investors currently in the sector today.
Furthermore, this rally coincides with a massive flow of capital into U.S. exchange-traded funds during this week. Bitcoin ETFs captured over 750 million dollars in a single day, marking their best performance since last October. Therefore, regulated demand continues to absorb much of the supply available on the main digital asset exchange platforms for cryptocurrencies.
Institutional and regulatory optimism drives market recovery in 2026
On the other hand, legislative progress regarding the Clarity Act in the United States has injected renewed optimism into the market. Traders reacted positively to the Senate Banking Committee revisions, which allowed Bitcoin to break the $95,000 barrier very quickly. Also, stable inflation data in North America has contributed to risk assets regaining their appeal against the dollar this year.
It is important to highlight that liquidations in Ethereum were also significant, reaching 231 million dollars during this recent rally. Similarly, Solana and XRP experienced gains that forced short sellers to cover their positions in an accelerated manner today. Consequently, the forced liquidation of bearish contracts fueled the bullish cycle observed in the current price charts.
Will Bitcoin achieve the psychological mark of 100,000 dollars in the near future?
In prediction platforms, users now give an 89% probability that the asset will reach the six-figure mark soon. This bullish sentiment has grown following recent economic reports showing a stabilization of consumer prices recently. However, the asset is still 23% below its all-time high of $126,000 recorded back in October. In this way, the growth margin remains a realistic target for many technical analysts.
Finally, investors’ eyes are set on this Thursday’s Senate session to define the future market structure. If bipartisan support consolidates, the king cryptocurrency could solidify its trend toward new highs before the end of the current quarter. Without a doubt, the market has punished bearish complacency with one of the largest liquidations of the 2026 fiscal year.
