Bitcoin snapping out of its week-long coma and blasting past $94,000 wasn’t some gentle drift — it was a pressure valve blowing open.
$BTC spent days boxed in between $88k–$92k, but early on Dec 9 the range cracked fast. You could almost see the footprints: deep-pocket wallets — the kind tied to institutions and major exchanges — hoovered up thousands of coins in a tight window. Once that demand punched through resistance, the order books thinned and the squeeze lit up.
Futures didn’t survive the shock. Roughly $300M in liquidations hit the market over 12 hours, with BTC taking about $46M of shorts with it and $ETH ($ETH) seeing even more. Classic cascade — once stops tripped, price climbed like there was no gravity left.
The timing wasn’t random. A fresh signal from the US OCC confirmed that banks can run riskless principal crypto transactions, essentially letting regulated players intermediate flow without touching custody risk. That’s a quiet door swinging open for bigger money.
Add the looming FOMC decision and the rising odds of easier liquidity, and you get the kind of backdrop that traders don’t ignore.
Right now $BTC is holding near the highs with volatility still humming. The question is whether buyers carry this into the Fed announcement — or if this was the top of the current burst and profit-taking steps in.
Either way, this is one of those moments where checking the price widget isn’t just curiosity — it’s risk management.