Crypto, TradFi sentiment improves: Will Bitcoin traders clear shorts above $93K?

Investor sentiment, both retail and institutional, is improving, with fund managers anticipating an end-of-year rally. Bernstein noted that the Bitcoin cycle has broken its traditional four-year pattern, entering an elongated bull cycle driven by sticky institutional buying that offsets retail panic selling. This aligns with BlackRock CEO Larry Fink's observation that sovereign wealth funds are incrementally establishing long-term positions in Bitcoin. Supporting this, Strategy announced a significant purchase of 10,624 BTC. Despite this positive sentiment, Bitcoin's price is currently capped in the $90,000 to $93,000 range. Technical analysis suggests potential support lower, while cumulative volume data shows larger cohorts selling into rallies. Order book data reveals selling pressure starting at $90,000, thickening between $94,000 and $95,000. However, liquidation heatmap data indicates short liquidity exists between $94,000 and $95,300, which could potentially fuel a run toward $100,000 if buying catalysts emerge.

(Source：Cointelegraph)