Bitcoin Blasts Past $94K as Fed’s Next Move Keeps Everyone Guessing

Bitcoin just smashed through another psychological barrier, leaving traditional finance scrambling for explanations.

The Fed's Crystal Ball is Cloudy

While Wall Street analysts parse every syllable from the latest FOMC minutes, Bitcoin's price action is writing its own monetary policy. The surge past $94,000 isn't just a number—it's a statement. It highlights a growing divergence where digital asset markets operate on a different timeline, often reacting to macro shifts long before traditional risk assets catch the scent.

Decoupling from the Old Guard

This rally underscores a key narrative: Bitcoin increasingly moves to its own rhythm. The usual suspects—inflation data, jobs reports, dovish vs. hawkish whispers—still matter, but their impact is becoming more nuanced. The asset is maturing beyond being a simple risk-on/risk-off proxy, building resilience that baffles the legacy playbook.

So, while pundits debate the Fed's next quarter-point move, Bitcoin's chart is busy drawing a much bigger picture. It's a reminder that in the race for financial relevance, sometimes the best strategy is to simply build a faster horse—and leave the central bankers wondering what just galloped past. After all, in crypto, the most reliable forward guidance is often the price on the screen.

In brief

• Bitcoin has passed the symbolic threshold of $94,000 on the eve of the FOMC, reigniting the debate on a possible bullish reversal.
• This crossing marks an important technical breakout after several days of hesitation and market consolidation.
• Several technical indicators confirm a gain in momentum, notably the absorption of the fair value gap and the break of resistance at $93,500.
• The market remains suspended to the Fed’s decision, which could play a decisive role in validating or not a new bullish cycle.

A key threshold crossed, but technical momentum still fragile

Bitcoin has surpassed $94,000, strengthening its short-term bullish structure after a few days of indecision.

After long failing to secure a daily close above $93,000, BTC this time broke through $93,500, setting a decisive ascending high to restart bullish momentum.

Since December 3, the market had been stuck in a narrow range, with investors adopting a wait-and-see stance regarding U.S. monetary policy decisions.

Several technical elements confirm this short-term reversal, without guaranteeing its solidity :

• The fair value gap (FVG) between $87,500 and $90,000 has been completely absorbed, erasing the dip left by recent hesitations ;

• The clear break of resistance at $93,500 marks the immediate return of bullish momentum ;

• Bitcoin now trades around the monthly VWAP on both the 4-hour and daily timeframes. Consolidation above this indicator would strengthen the scenario of a real reversal ;

• Trader Jelle highlights the importance of this technical threshold by stating : “rather boring day so far, with BTC oscillating around the monthly open… To watch : a lower low below $87,600 or a clean break above $93,000”.

In other words, if the bullish MOVE is real, it remains for now anchored in zones of technical neutrality. The market’s reaction after the Fed meeting could serve as a decisive catalyst to validate or invalidate this potential bull run.

Liquidity and sentiment indicators still lagging

Beyond crossing $94,000, several key metrics indicate that the market does not yet fully embrace the recovery.

The bid-ask ratio has remained relatively low and irregular, a signal that buyers act without real aggressiveness. Unlike the sharp drop in November, where massive purchases had absorbed selling pressure between $100,000 and $80,000, this rise is driven more by price than by actual market depth.

The discrepancy is also visible in premium indices between regions. On one side, the Korea Premium Index, often used to gauge retail investor appetite, has cooled off, trading at near-zero or slightly negative levels. In other words, Asian speculators are not pursuing this rally, a striking contrast with previous rally phases where South Korea showed strong premiums.

Conversely, the Coinbase Premium Index, an indicator of U.S. institutional flows, is positive again. Historically, these signals indicate modest accumulation in the early reversal phase, but without widespread enthusiasm.

The Bitcoin price has crossed a key threshold, rekindling hopes of a new bullish cycle. However, without volume confirmation or clear macroeconomic support, caution remains advised.

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