Key Insights
- Buyers pushed the BTC/USD price above $94,000 to signal that bulls were in control of the short-term trend.
- The recent BTC price surge could face pressure once the Fed announces its decision on Wednesday, analysts warn.
- Liquidity metrics are not yet signaling full confidence in a BTC price rebound. The bid-ask ratio has remained relatively low and uneven.
Bulls pushed the BTC/USD price above $94,000 to signal that buyers were in control of the short-term trend.
However, trading volume data suggested caution at the time of writing with a top analyst claiming volume was insufficient to sustain the price level.
Santiment described the move as a “much-needed rebound” that drew traders back into the market.
The firm said the sudden price jump has drawn investors back into the market but it will need steady buying in the coming days to keep it going.
BTC/USD Price Outlook: Bitcoin Price Today Braces for Swings Before Fed Meeting
The recent Bitcoin price surge could face pressure once the Fed announces its decision on Wednesday, analysts warn.
CME Group futures show an 88.6% chance of a 0.25% rate cut. Until yesterday, traders mostly stayed on the sidelines, keeping Bitcoin’s price stuck in a sideways range.
That changed when BTC climbed above $93,500, forming the higher high needed to get short-term bullish momentum back on track.
Meanwhile, the futures market shows a 21.6% probability of another quarter-point cut in January.
Sykodelic, a top Bitcoin analyst, noted that any price action leading into the FOMC is hard to read because the meeting could cause significant volatility.
Latest Bitcoin Rally Draws Skepticism from Investor
Long-term Bitcoin investor NoLimit told his 53,000 X followers that the recent BTC/USD price spike looked like pure manipulation. He pointed out that the jump to $94,000 did not appear organic.
People were celebrating, but zooming out for even a moment shows all the fingerprints of a classic engineered pump, according to the investor.
He also explained that thin order books make it easy to push prices higher. Massive buys came in within minutes, followed by an immediate stall with no continuation.
This, he noted, is exactly how big players create FOMO to sell at better prices.
Worth noting is that liquidity metrics are not yet signaling full confidence in a BTC price rebound. The bid-ask ratio has remained relatively low and uneven.
During November’s sharp drop from $100,000 to $80,000, the ratio turned positive as large bids absorbed the sell-off. This time, the current rebound has not seen the same level of aggressive buying.
The move above $93,500 appears to be driven by price itself, with new demand still catching up.
Analysts say this suggests that while the market is improving, the rally may need more substantial support to sustain momentum
The market shows activity, but buyers are not clustering in the heavy, committed ways seen during strong uptrends. For now, BTC/USD price strength is moving faster than market depth.
Exchange pricing data tells a similarly nuanced story. The Korea Premium Index, which measures retail sentiment, has dropped noticeably.
Earlier in the year, Korean markets often traded at premiums during rallies, but that excitement has mostly disappeared, leaving the index near flat or slightly negative.
This suggests retail speculators are not yet chasing the latest move. At the same time, the Coinbase Premium Index, a measure of U.S. investor activity, has turned positive again.
Historically, modest positive readings signal spot accumulation during early-stage trend reversals.