The probability of Bitcoin reaching $100,000 by the end of 2024 has increased to 45%, up from 34% last week, according to recent onchain data. Nearly half of Bitcoin options traders are betting on a six-figure price, with some anticipating a rise to $150,000 despite Bitcoin's current price of $92,680, which is down 7.02% from its peak of $99,541. The options data indicates a notable demand for call options, reflecting strong market interest in bullish scenarios. Furthermore, predictions suggest there's a 68% chance Bitcoin could move within the range of $81,493 to $115,579, with only a 5% likelihood of dropping below $70,000. Analysts have noted historical patterns of significant pullbacks even during bullish cycles, advising caution and risk management, while others express optimism about potential consolidation around current price levels for the sustainability of the bull market.

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