Bitcoin climbs back above $94,000: Is the bull run really back on?
Bitcoin smashed past 94000. Everyone is asking if the bull run has returned. This quick climb happened right before a key Federal Reserve meeting. BTC broke a major price ceiling. Market tension is high while traders wait for the FOMC news.
A giant Bitcoin has just shattered a glass ceiling inscribed with $94000.
In Short
Bitcoin crossed the key $94000 threshold. This move came on the eve of the FOMC meeting. It brings back talk of a possible bullish reversal. This break marks a major technical shift. It follows several days of slow movement. Technical signs support the shift. BTC absorbed the fair value gap. It also shot past the $93500 resistance line.
The market is waiting for the Fed's decision. That choice will either prove or kill this new surge. A key threshold has been crossed. The current technical push remains fragile. Bitcoin surged above $94000. This strengthens its short-term bullish pattern after days of indecision.
BTC struggled for a long time to close above $93000. Now it has cleared $93500. This created a strong peak, bringing back buying interest. Since the third of December, the price stayed in a small trading range. Investors paused, waiting for US monetary policy updates.
Several technical points confirm this short-term swing. The rise might not last, though.
The fair value gap (FVG) between $87500 and $90000 is completely gone. This erased the low point left by recent hesitation. The clear break above $93500 shows instant upward energy is back. Bitcoin sits near the monthly Volume-Weighted Average Price (VWAP). This is true on both 4-hour and daily charts. Holding above this line would confirm a true market reversal. Trader Jelle points out this level matters greatly. He notes BTC was dull, just sitting at the monthly start price. He says key areas to watch are a drop below $87600 or a clear break above $93000. The price jump is real. It still sits in neutral technical territory for now. The reaction after the Fed meeting will serve as the final test. That test will validate or invalidate this potential bull run.
Liquidity and market mood remain weak
Price crossed $94000, but other key numbers look weak. The market has not fully bought into this recovery yet. The bid-ask ratio is low and jumps around. This means buyers are cautious, not aggressive. November saw massive buying. That buying ate selling pressure between $100000 and $80000. This current rally lacks that deep market support. It is more about price movement than actual depth.
Regional premium indices show this split clearly. The Korea Premium Index measures small investor hunger. That index has cooled way down. It sits near zero or is slightly negative. Asian speculators are not jumping into this upward trend. This differs from past rallies. South Korea usually boasted strong premiums during previous surges. The Coinbase Premium Index shows US institutional money flows. This index is positive again. Historically, this signals modest accumulation is starting. It does not show widespread market excitement yet.
Bitcoin hit a major price point. This revives hopes for a new bull market. Caution remains necessary. The move lacks strong trading volume confirmation. It also needs clear support from macro economic data.