Bitcoin is trading around $91,901 as of the writing. It has shown weekly gains in excess of 3.99%, while remaining above technical short-term support. After a drop to $92,446, the price action is stable. Buyers defended an area around the 21-day average, which was $91,800.
( CoinCodex)
The traders continue to watch this structure closely, trying to see if it can move towards the $100,000 mark.
Can Bitcoin maintain momentum as macro data approaches?
The Short-Term Prospects are Shaped by Rejection of $94K
Recent trading shows that the resistance level of $94,000 has been rejected. The volume data shows that active buyers are defending lower prices, while sellers have capped any attempts to go higher. The futures market still shows a bias towards short positions, but neutral funding rates lower the risks of a sharp downward pressure. The balance between the two keeps Bitcoin’s trading in a narrow range, rather than leading to a sharp sell-off. Participants in the market now watch daily closings to look for confirmation signals.
X
Analysts consider $94,278 to be a crucial level. If the price closes above $94,278 on a daily basis, it would be a strong indicator of re-invigorated upside momentum. A move below $93,000, on the other hand, could lead to a new test near $88,000. These levels are used to set expectations for the short term and help guide positioning on both spot and derivative markets.
The Weekly Structure Indicates Potential Change
Bitcoin’s weekly range has been protected by an analyst who is known for correctly predicting the 2020 bull market. Since then, the price has rallied and is now challenging upper resistance.
The behavior is similar to previous break-out structures seen in earlier cycles. A weekly close over the high of the range or a retest which turns resistance to support confirms a breakout, according to the analysis.
X
A similar move would end the weekly downward trend that began in October 2025. Analysts describe this trend as being of mid-term importance but still consider its resolution to be significant for the broader direction of the market.
This same analysis emphasizes that $93,500 must be a strong support area to keep a mid-term bullish bias.
The $93K Liquidity Grab
The same analyst observed that Bitcoin was gaining liquidity in historical demand zones between early March and April 2025. The price then closed above this area on a weekly basis, setting the stage for the market to revisit the current levels.
The current price action reinforces its importance within the larger structure. The behavior is in line with the technical expectation, not exhaustion.
The Missing Piece is the On-Chain Request
On-chain data indicates weak demand despite price stability over $93,000. Analysts say that for a return to $100,000, there must be a more robust recovery of on-chain activities. The trading volume remains low, while sentiment in the markets is mixed. This condition limits confidence in upward movements.
CryptoQuant
Analysts point out that the conclusion of the holidays could be a catalyst. On-chain movements could rise as investors resume regular trading. This shift in demand may be enough to sustain higher prices.
Bitcoin is holding steady for now. The market will wait. Can the CPI data due on Jan. 8th deliver what traders are expecting?
This site is for entertainment only. Click here to read more
