Bitcoin Could Surge To $500K Amid DeFi Boom, Trump's Pledge To Establish A BTC Strategic Reserve, Says Cardano Founder Charles Hoskinson

Bitcoin's BTC/USD flash crash from $103,000 to $91,000, an 11% drop, triggered significant liquidations and drew <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42368258/bitcoins-thursday-flash-crash-wiped-out-500-million-whats-driving-the-volatility">analysis from traders</a>. 



What Happened: In a detailed post on X, crypto trader Cold Blooded Shiller called the move a &#8220;classic bull market shakeout&#8221; targeting late-positioned longs. 



Despite this, Bitcoin's trajectory is still bullish, with Shiller foreseeing a breakout above $100,000 after a period of consolidation.



Bitcoin&#8217;s inability to sustain gains between $98,000 and $99,000 hints at a re-entry into its higher timeframe range (HTF), a pattern that could influence altcoin performance in the near term.



Coinglass data reported total liquidations stood at peak levels of $891.7 million, with 167,182 traders liquidated.



Adam Simecka, another crypto trader, <a href="https://x.com/AdamSimecka/status/1864802198095380918">noted</a> the crash featured the largest five-minute price drop in Bitcoin&#8217;s history—$6,200 in either direction. This unprecedented volatility underscores the intensity of the market's current phase.



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42348522/anthony-scaramucci-claps-back-at-bitcoin-naysayers-says-theres-plenty-of-room-to-run-is-his-150000-prediction-within-reach">Anthony Scaramucci Claps Back At Bitcoin Naysayers, Says There&#8217;s &#8216;Plenty Of Room To Run:&#8217; Is His $150,000 Prediction Within Reach?</a>



Potential Scenarios



Shiller outlined three potential scenarios for traders to enter the market.



<ul>
<li>Scenario 1: Re-entering the high timeframe range; altcoins may thrive as Bitcoin stabilizes.</li>



<li>Scenario 2: A high timeframe range re-entry with deeper BTC dip (potentially towards $86,000), leading to altcoin corrections.</li>



<li>Scenario 3: A breakout above $100,000 soon (least likely), enabling broader market gains.</li>
</ul>



While Bitcoin's flash crash rattled traders, its typical bull market volatility is seen as an opportunity. Shiller emphasized that such dips often pave the way for discounted entry points, setting the stage for eventual higher highs.



The resilience of altcoins during the crash further signals confidence in the broader market. Traders are watching closely to see whether BTC stabilizes or dips further, which will shape the trajectory of both Bitcoin and altcoins in the coming days.



Read Next:



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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42368258/bitcoins-thursday-flash-crash-wiped-out-500-million-whats-driving-the-volatility">Bitcoin&#8217;s Thursday Flash Crash Wiped Out $500 Million: What&#8217;s Driving The Volatility?</a></li>
</ul>



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Bitcoin's Flash Crash Is A 'Classic Bull Market Shakeout,' Says Trader: Watch These 3 Scenarios 

Khyathi Dalal

Bitcoin's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) flash crash from $103,000 to $91,000, an 11% drop, triggered significant liquidations and drew <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42368258/bitcoins-thursday-flash-crash-wiped-out-500-million-whats-driving-the-volatility">analysis from traders</a>.

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