Bitcoin Hits a Record High of $96,958; Polymarket and Kalshi Predict Further BTC Growth

Bitcoin (BTC) has experienced a significant surge in the past few hours, reaching a new all-time high (ATH) of $96,958. It is currently trading at $96,572, reflecting a 4.67% increase over the last 24 hours. This impressive rally has pushed the probability of BTC hitting $95,000 in November to over 100%. Market sentiment aligns with optimistic Bitcoin price predictions, suggesting the possibility of BTC reaching $98,582 by the end of 2024.

Current Bitcoin Market Trends

Bitcoin’s market capitalization has risen by 4.74% to an impressive $1.91 trillion. Additionally, its 24-hour trading volume has grown by 6.08%, now standing at $80.80 billion.

At its current growth trajectory, Bitcoin could potentially surpass Amazon’s market cap of $2.151 trillion, positioning itself as the sixth most valuable asset globally. Many analysts remain optimistic, predicting Bitcoin might reach the psychological milestone of $100,000 by year-end. This bullish outlook is fueled by positive market sentiment, growing institutional interest, and increasing trading volume.

On the prediction market Polymarket, bettors estimate a 34% probability of Bitcoin hitting $105,000 in November. Meanwhile, the odds of it reaching $100,000 during the same period have surged to 72%.

Similarly, users on Kalshi are speculating about Bitcoin’s performance this week. Currently, 51% expect it to hit $97,000 or higher, 57% foresee it surpassing $98,000, and 51% predict it will climb to $99,000 or beyond.