Bitcoin has smashed through the $94,000 level after spending nearly a week trapped in a tight $88,000–$92,000 range. The breakout on December 9 came fast and violent, unfolding within minutes as the market flipped from stagnation to full acceleration.
🐋 Whale Accumulation + Short Squeeze = Liftoff
On-chain and trading data show a surge of inflows into major institutional and exchange-linked wallets just before the rally.
High-volume custodial addresses accumulated thousands of BTC in a short burst — a clear sign that deep-pocketed buyers moved early.
Once the upper bound of the range broke, order books thinned instantly. Momentum caught fire as short sellers scrambled to close positions.
$300M+ total crypto liquidations in 12 hours
$46M in Bitcoin shorts wiped out
$49M in Ethereum shorts liquidated
Most of the carnage hit short-side traders, confirming this was a classic short squeeze, not a slow trend build. As cascading stops triggered, BTC shot upward with almost zero counter-supply.
🏛️ Regulatory Tailwinds & FOMC Speculation Boost Sentiment
The timing wasn’t random.
Just hours before the breakout, the U.S. Office of the Comptroller of the Currency (OCC) announced that banks are now permitted to engage in riskless principal crypto transactions — a shift that potentially opens the door to larger institutional flow.
With the Federal Reserve’s rate decision approaching, traders are also positioning for friendlier liquidity conditions if rate cuts are confirmed.
📈 What’s Next?
Bitcoin is now holding near its intraday highs, volatility remains hot, and funding rates are resetting after the squeeze.
Market watchers are split:
Bull case: Continued demand carries the rally into the FOMC announcement.
Caution case: Profit-taking kicks in near the top after an overstretched vertical move.
Either way, the range is broken — and Bitcoin has signaled it’s ready for its next major leg.
