Bitcoin trades around $91,901 at the time of writing, showing weekly gains near 3.99% while maintaining a position above short-term technical support . Price action shows stability after a dip to $92,446, where buyers defended the area near the 21-day moving average around $91,800. (Source: CoinCodex ) Traders continue to focus on whether this structure can support a move toward the closely watched $100,000 level. Can Bitcoin maintain momentum as macro data approaches? Rejection at $94K Shapes the Short-Term Outlook Recent trading activity shows a clear rejection near the $94,000 resistance zone . Volume data points to active buyers defending lower levels, even as sellers capped upside attempts. Futures markets still show a short bias, yet neutral funding rates reduce the risk of sharp downside pressure. This balance keeps Bitcoin trading within a defined range rather than triggering a steep sell-off. Market participants now monitor daily closes for confirmation signals. Source: X Analysts highlight $94,278 as a critical level. A daily close above that price would strengthen the case for renewed upside momentum. In contrast, a move below $93,000 could open the door for a retest near $88,000. These thresholds frame current expectations and guide short-term positioning across spot and derivatives markets. Weekly Structure Signals a Potential Shift An analyst known for accurately calling the 2020 bull run noted that Bitcoin has protected the bottom of its weekly range. Price has since rallied across that range and now challenges the upper resistance area. This behavior mirrors previous breakout structures observed during earlier cycles. According to the analysis, a weekly close above the range high or a successful retest that turns resistance into support would confirm a breakout. Source: X Such a move would also end a weekly downtrend that started in mid-October 2025. While analysts describe that trend as mid-term in importance, they still view its resolution as meaningful for broader market direction. The same analysis stresses that the $93,500 area must hold as support to maintain a bullish mid-term bias. Liquidity Grab and the $93K Revisit Toward the end of 2025, the same analyst tracked Bitcoin grabbing liquidity around historical demand zones from early March and late April. Price later achieved a weekly close above that area, which set the stage for a revisit at the current market levels. Current price action respects that level, reinforcing its relevance within the broader structure. This behavior aligns with technical expectations rather than signaling exhaustion. On-Chain Demand Remains the Missing Piece Despite price stability above $93,000, on-chain data shows weak demand. Analysts note that a stronger recovery in on-chain activity must emerge to support a sustained return toward $100,000. Trading volumes remain subdued, and sentiment across the market stays mixed. These conditions limit conviction behind upside moves. Source: CryptoQuant However, analysts point to the end of the holiday period as a potential catalyst. As investors return to regular trading activity, on-chain movement could increase. That shift may provide the demand needed to support higher price levels. For now, Bitcoin holds steady, and the market waits. Will the Jan 8th incoming CPI data deliver the spark traders expect?
