The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

Skew says Bitcoin’s odds of breaking $20,000 are “rapidly re-evaluating,” while one analyst highlights the nature of the current price rally. Data shows that Bitcoin (BTC) has a 7% chance of breaking its all-time high of $20,000 by the end of the year. According to on-chain analytics resource Skew, as of Oct. 22, Bitcoin options indicate a sustained move higher in 2020. BTC’s odds of reaching $20,000 “rapidly re-evaluating”

As of press time, there is a 7% chance that BTC/
USD will reach or exceed $20,000 by Dec. 31, 2020, an 11% chance of reaching $18,000, and more bets that Bitcoin will reclaim $20,000 by March 2021 (14%), while the June 2021 figure is 18% likely to reclaim $20,000.

On social media, Skew said that the odds of Bitcoin reaching $20,000 are “rapidly re-evaluating” after Bitcoin hit $13,200.

Bitcoin options price probability chart Source: Skew

As Cointelegraph reported, despite the rise in Bitcoin prices, institutional investor sentiment remains biased towards the upside. For example, CME's latest COT report shows that the vast majority of institutions are long Bitcoin, not short Bitcoin.

On Wednesday, statistician Willy Woo pointed out that investors who are keen to hold Bitcoin for the long term have withdrawn a lot of liquidity from the speculative field.

He tweeted: "Where is the supply coming from? 250,000 Bitcoins have been withdrawn from spot exchanges by investors and turned to holding.

"So far, this is the source of supply, which is the result of buying Bitcoin. The previous bull market was driven by small retail investors. "

A thorough rise

The nature of the behavior that led to the price increase has not been ignored. Charles Edwards, founder of digital asset management company Capriole, said this is a unique phenomenon in Bitcoin's twelve-year life.

"This rise is fundamentally spot-driven. There is almost no resistance to orders," he tweeted on Thursday.

"Yes, things change rapidly, this is crypto. But this is a very healthy rise. This is something we have never seen before when Bitcoin reached $12,000.”

However, as the price of Bitcoin broke through $12,000, Bitcoin futures trading volume in the past two days has also nearly tripled compared to the beginning of the month.