Bitcoin climbed toward $92,000 today, as market participants reacted to changing expectations around U.S. monetary policy, according to blockchain analytics provider Glassnode. Traders interpreted signals of a potentially more dovish Federal Reserve as supportive for risk assets, including cryptocurrencies.
After sliding earlier this week, BTC posted a 4% gain over the past 24 hours, aided by rising trading volumes and improving sentiment across derivatives and on-chain metrics. The Puell Multiple, an indicator tracking miner revenue, moved higher from deep accumulation levels, signaling renewed market momentum. Additionally, more than $132 million in BTC positions were liquidated, mostly short positions, which contributed to the upward pressure.
Key levels to watch include resistance at $93K–$96.5K and support near $88K–$85.5K, which may determine whether Bitcoin continues its rally or faces renewed corrections. Analysts emphasize monitoring macro signals and technical momentum in the coming sessions.
Source: https://x.com/ali_charts/status/1993807728167596211
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