Bitcoin Traders Eye $93,500 Liquidation Zone After Fed Pauses Rate Cut

Bitcoin staged a quick rally to $90,600 on Wednesday, but the gains evaporated after the US Federal Reserve decided not to cut interest rates. Data and analysts are flagging a potential move to $93,500, which has been identified as a key liquidation zone. Trader Mark Cullen highlighted the $93,500 area on Bitcoin's exchange liquidation map, saying the zone carries a visible 'Come get me!' signal and that the liquidation level sticks out like a 'sore thumb.' CoinGlass data indicated roughly $4.5 billion in cumulative short positions clustered around that price.

Coinbase's Bitcoin premium index remains deeply negative, which the report says signals weak US spot demand and suggests the rally is being driven more by futures and leverage than by strong spot buying from US investors. Crypto analyst Leo Ruga said both the Composite versus BTC risk oscillator and an onchain pressure oscillator are aligned in risk-off territory, with the risk oscillator near 52 and onchain pressure elevated above 34.

Ruga noted that for a sustained recovery, selling pressure must run out, and until then a strong bullish trend may fail to persist. Analyst Pelin Ay said the Whale Ratio is sending a neutral-to-cautious signal, hovering near its 100-day moving average but well below extreme levels.

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