Bitcoin Surpasses $90,000 Before Sharp Plunge: Over 260,000 Liquidated

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The enthusiasm around the "Trump Trade" is fading.

On November 12, Bitcoin briefly climbed above $90,000 before abruptly plunging nearly $5,000 within just three hours.

Market Performance Highlights

According to Coinglass, the past 24 hours saw 260,000+ traders liquidated, totaling nearly $1 billion in losses.


Key Drivers Behind Bitcoin’s Rally

Institutional Optimism

Bitcoin’s recent all-time highs have drawn bullish forecasts:

Options Market Activity

Deribit data reveals surging bets on Bitcoin hitting $100,000 by December 27:

Nick Foster (Founder, Derive Protocol) notes:

"Post-election volatility has fueled massive $100K call-option bets—a standout trade this quarter."

Cautions Amid the Frenzy

While sentiment leans bullish, analysts warn:


Broader Crypto Market Impact


FAQ Section

Q: Why did Bitcoin drop after hitting $90K?
A: Profit-taking and reduced "Trump Trade" momentum triggered the sell-off.

Q: Is $100K realistic for Bitcoin by year-end?
A: Options markets suggest optimism, but derivatives imply low odds (~18%).

Q: How are ETFs influencing Bitcoin’s price?
A: Institutional inflows (e.g., BlackRock’s IBIT) are creating sustained demand pressure.

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