Crypto: Bitcoin Traders Eye $93.5k Liquidation Sweep Despite Fed Interest...
Bitcoin pulled back from its intraday highs after the US Federal Reserve declined to cut interest rates, but futures market data suggests traders may attempt to seize the short liquidity in BTC’s $93,500 range.
Bitcoin (BTC) staged a quick rally to $90,600 on Wednesday, but the gains evaporated as the US Federal Reserve decision to forgo an interest rate cut was announced. Despite the whipsaw price action from Bitcoin, data shows traders eyeing a potential move to $93,500. One analyst said that the price level stands out as a key liquidation zone, with over $4 billion in leveraged short positions at risk of liquidation.
Over $4.5 billion in BTC short liquidations sit near $93,500, making it a possible stop-hunt level for traders.
Coinbase’s Bitcoin premium remains negative, signaling weak US spot BTC demand.
According to crypto trader Mark Cullen, the $93,500 level stands out on Bitcoin’s exchange liquidation map. Cullen noted that this price zone carries a visible “Come get me!” signal, with the liquidation level sticking out like a “sore thumb.”
CoinGlass data indicated that $4.5 billion in cumulative short positions clustered around $93,500. If Bitcoin pushes into that range, forced liquidations may accelerate price action, turning a slower rally into a fast one driven by shorts covering.
However, underlying participation remains uneven. The Coinbase Bitcoin premium index, which tracks US spot demand via the exchange, is still deeply negative. This suggests the rally is being driven more by futures and leverage than by strong spot buying from US investors.
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Crypto analyst Leo Ruga highlighted that both the Composite (which includes SPX, GOLD, Crude oil, and DXY) vs BTC risk oscillator and onchain pressure oscillator are aligned in risk-off territory. The risk oscillator currently sits near 52, while onchain pressure remains elevated above 34, levels associated with market stress rather than trend expansion.
Ruga noted that for a sustained recovery, selling pressure must run out. Until then, a strong bullish trend may fail to persist.
Source: CoinTelegraph
