Market Overview - Bitcoin is currently holding near $95,000 after a volatile rally, with traders anticipating a test of $100,000 but not a decisive breakout beyond that level [1] - Prediction markets indicate a 54% probability that Bitcoin will reach $100,000 in January, with significantly lower odds for higher targets, suggesting traders expect short-term momentum rather than sustained growth [2] - Recent market movements have been characterized as mechanical, driven by a "violent short squeeze" and significant inflows into ETFs, totaling over $800 million, the highest in three months [3] Market Dynamics - The surge in Bitcoin's price is framed as an order-flow event, with tactical positioning favored over long-term directional bets, as highlighted by Enflux [4] - Ether has shown relative strength, maintaining a price near $3,300, supported by yield demand and stable funding rates, reinforcing the view that $100,000 for Bitcoin is a level to be tested rather than surpassed [5] Market Movements - Bitcoin briefly exceeded $97,000 during U.S. trading hours before retreating to around $95,000 due to profit-taking and resistance [6] - Ether outperformed Bitcoin, remaining near $3,300 amid broader market volatility [6] - Gold and silver prices declined as geopolitical fears eased, while Japan's Nikkei 225 index fell 0.52%, underperforming other mixed Asia-Pacific markets [6]