Bitcoin Breaks $98,000 Barrier, Short Liquidations Spike… $100,000 in Sight

# Bitcoin (BTC) Surges to $98,000, Nearing All-Time High Amid Short Liquidations Bitcoin (BTC) has surged past $98,000 as of November 8, approaching an all-time high. Strong buying momentum is driving the market upward, while in the derivatives space, short liquidations are increasing due to the rapid price rise. Coinglass data shows total liquidation volume for the one-hour period ending at 10 a.m. reached approximately $37.3 million, with $35.37 million of that in short positions. This spike in forced short liquidations has added further liquidity to the bullish market. # BTC Alone Accounts for $23.51M in Liquidations; ETH and SOL Follow Suit Bitcoin (BTC) led with $23.51 million in liquidations, more than half of the total. Ethereum (ETH) and Solana (SOL) followed, with liquidations of $2.37 million and $2.7 million, respectively. Solana (SOL) faced intense short liquidation pressure after breaking above a recent local peak during its rebound rally. Other altcoins, such as Sui (SUI), Dogecoin (DOGE), and XRP (XRP), also experienced significant liquidations, each in the hundreds of thousands. The overall liquidation heatmap reflects a surge in failed bearish bets, aligning with broader bullish sentiment. # $99K–$101K: Key Liquidity Zone as Bitcoin Approaches Psychological $100,000 Resistance As Bitcoin (BTC) climbs past $98,000, eyes are on the crucial $100,000 resistance level. Coinglass's leverage liquidation map identifies the $99,000 to $101,500 range as a major pocket for short positions. Breaking this zone could trigger an accelerated short squeeze, pushing prices higher. Analysts also highlight the $104,000 to $107,000 range as another significant liquidation concentration. This zone is seen as a potential short-term target fueled by market expectations for new highs. # Downside Support at $94K in Case of Corrections Considering potential pullbacks, key support levels have come into focus. The $94,000 to $95,000 range, where many long positions are concentrated, is expected to be the first defense line in case of a correction. Further below, the $88,000 to $91,000 range stands out as medium-term support. Historically, this area has acted as the upper boundary of a prior price consolidation box and hosts significant long-position build-ups. Breaking below this level would likely intensify selling pressure. # Market Sentiment Holds Neutral As $100,000 Break Remains the Key The Fear & Greed Index from Alternative.me indicates that market sentiment is currently neutral, suggesting no signs of overheating and reflecting cautious optimism for incremental gains. Analysts agree that breaking above the psychological $100,000 mark will determine Bitcoin’s short-term direction. Without this breakthrough, sustained bullish momentum may stall. Bitcoin’s future movement will define its legacy in the coming months as crypto markets respond to macroeconomic trends and renewed interest in digital assets. Whether it reaches new heights or faces a short-term correction, all eyes are on Bitcoin’s price trajectory.