The price of Bitcoin has broken through the $87,000 barrier for the first time, a landmark surge fueled by intense optimism and escalating FOMO (fear of missing out), officially pushing the market into a state of extreme greed.
Across the board, multi-asset prices are climbing in tandem. Ethereum has rallied to its highest level in nearly 10 months, touching $2,800, while Ripple and Dogecoin have also posted substantial gains. In traditional financial markets, crypto-linked equities are performing strongly as well: Strategy (MSTR.US) shares advanced 9.47%, and Bitmine Immersion Technologies Inc (BMNR.US) shares rose 8.70%.
Data compiled by Woofun AI shows that over the past 24 hours, more than $1 billion in positions were liquidated across the cryptocurrency market, with $840 million of that stemming from bearish short positions being wiped out. Meanwhile, Bitcoin open interest grew by 8.44% within a single day, a signal typically pointing to robust bullish momentum and fresh capital inflows. The total global cryptocurrency market capitalization now stands at $2.91 trillion, up 4.28% over the preceding 24-hour period.
Traditional equities also kicked off the new trading week with vigor: the Dow Jones Industrial Average climbed 366.19 points, or 0.71%, to close at 52,048.83; the S&P 500 advanced 1.49% to settle at 7,764.70; and the Nasdaq Composite surged 2.26% to a record high of 27,122.09.
On the geopolitical front, Iran has presented the United States with conditions for reopening negotiations aimed at ending the war. In parallel, Donald Trump told Fox News that he would likely be open to meeting Iranian President Masoud Pezeshkian this week on the sidelines of the United Nations General Assembly.
Prominent cryptocurrency analyst and trader Michaël van de Poppe asserts that Bitcoin's rally is far from over in the near term, setting the next price targets at $90,000 to $91,000, with further upside possible toward $98,000 to $100,000. He emphasizes that traders should not bet against the prevailing trend and declares that the bear market has conclusively ended.
Santiment, however, cautions that cryptocurrencies often punish overly elevated expectations, noting that a consensus of "prices will keep going higher" tends to emerge near local tops. Currently, bullish commentary on Bitcoin has reached its highest level since 2024, with market sentiment turning overwhelmingly optimistic and bullish voices far outnumbering bearish ones. Despite massive short positioning attempting to cap gains, Bitcoin continues its push toward $87,000—yet such extreme sentiment may foreshadow heightened short-term volatility risk.