Bitcoin’s $94K Comeback: Bull Run or Just a Mirage?

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Oh, what a dramatic resurgence! Bitcoin (BTC) bulls, ever the melodramatic performers, have once again seized the spotlight, pushing the BTC price above $94,000-though one must wonder if the underlying liquidity indicators are merely playing the role of the overly dramatic sidekick, ever ready to shout “Red flag!” 🐍

Key takeaways:

  • Bitcoin has reclaimed $94,000, a feat as thrilling as a Victorian debutante’s first ball-though the short-term bullish structure remains as uncertain as a poorly written sonnet. 🎭

  • Bid-ask liquidity, that most fickle of companions, remained as muted as a librarian’s whisper, suggesting buyers are stepping in, but only with the enthusiasm of a guest who arrived too late for the party. 🧠

Bitcoin maintains uptrend ahead of FOMC meeting

Bitcoin, ever the diva, struggled to secure a decisive daily close above $93,000 following its initial break in structure on Dec. 3. With the broader market bracing for the FOMC meeting, traders adopted a wait-and-see stance, akin to a crowd at a séance-expectant, yet entirely unimpressed. 🧙‍♂️

That changed on Tuesday, as BTC, with the grace of a well-rehearsed act, pushed cleanly through $93,500, producing the higher high needed to restore short-term bullish momentum. 🎭

On the four-hour chart, BTC had previously absorbed the entire fair value gap (FVG) between $87,500 and $90,000, but was unable to trigger a follow-up impulse. The latest breakout, however, invalidated that hesitation and signals renewed strength-though one might argue it’s merely the market’s way of saying “I’m not dead yet.” 🦴

Even with the upside shift, BTC still traded near the monthly VWAP (volume-weighted average price) on both the four-hour and one-day timeframes. A sustained hold above the monthly VWAP following the FOMC would further confirm a momentum-backed trend reversal-assuming, of course, that the market hasn’t decided to play hide-and-seek with its own logic. 🕵️‍♂️

Trader Jelle, reflecting on recent sideways movement, noted:

“Pretty boring day so far, with $BTC still chopping around the monthly open… Watch for a lower low below 87.6 or a clean break of the grey box at 93k.”

With $93,000 now cleared ahead of the FOMC event, market bias leans toward the upside, though traders may remain sensitive to any post-meeting volatility-because nothing says “excitement” like a central bank’s press conference. 🧠

Bitcoin price rallies but liquidity remains in question

Despite Bitcoin’s bullish price shift, liquidity metrics are not yet flashing full confidence. Bitcoin’s bid-ask ratio has stayed relatively low and inconsistent, much like a romantic interest who never quite commits. During November’s steep drop from $100,000 to $80,000, the ratio turned positive as large bids absorbed the sell-off. But the current rebound has not shown the same aggressive bidding, implying that the move above $93,500 is price-led, with new demand still catching up-like a guest arriving after the feast. 🍽️

This underscored a market where buyers are acting, but not in the heavy, committed clusters typical of strong uptrends. For now, price strength outpaces depth strength-though one might argue it’s merely the difference between a flickering candle and a roaring bonfire. 🔥

Bitcoin’s exchange pricing premium data revealed an equally nuanced story.

The Korea Premium Index, a key gauge of retail sentiment, has cooled sharply. Earlier this year, Korean markets regularly traded at premiums during rallies; however, that enthusiasm has since faded to near-flat or slightly negative territory, a sign that retail speculators are not yet chasing the move-perhaps they’ve learned the lesson of the last 12 months. 🧠

Meanwhile, the Coinbase Premium Index, a proxy for US investors, has turned positive again. Historically, modest positive readings point toward spot accumulation during early-stage trend reversals-though one might wonder if it’s merely the market’s way of saying, “I’m not dead yet.” 🦴

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2025-12-09 23:19