"BTC is back at nearly $94k this afternoon, after a wave of liquidations have squeezed the leading cryptocurrency upwards. About $123m in short-sided liquidations have happened across centralized exchanges in the last 4 hours per Coinglass. On the eve of the last Fed rate decision of 2025, we are seeing some renewed excitement in markets from BTC bulls, but this story is becoming awfully familiar."
"Open interest on futures is up 3% in the last 24 hours, combined with funding rates hovering near the 11% range across both centralized and decentralized exchanges. Dated futures are at similar levels, with the front month of January 2026 in contango at a little over 11% annualized basis at this time of writing. This type of structure has been quite common the last few months, and outside of massive volatility events, very on par for what we have seen in 2025."
"The last few weeks have seen price action similar to today, with the range of $94k down to $80k taking hold of the market since mid November. While scalpers rejoice, the actual direction of BTC price remains to be seen. Overall, market sentiment leans towards the fearful end of the spectrum still, with a rating of 23 on the Crypto Fear and Greed Index from Coinglass."
Bitcoin rallied to nearly $94,000 after roughly $123 million in short-sided liquidations across centralized exchanges within four hours. Open interest on futures rose about 3% over the past 24 hours and funding rates hover near 11% across centralized and decentralized venues. Dated futures show the front month, January 2026, in contango at slightly over an 11% annualized basis. Price has traded between $94k and $80k since mid-November, leaving short-term direction unclear. Market sentiment remains fearful, with a Crypto Fear and Greed Index reading of 23. FOMC language will materially influence price trajectory; dovish surprises could push BTC toward $100k.
Read at 24/7 Wall St.
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