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Mark Travoy

Bitcoin Eyes $93,500 Liquidation Cluster as Leverage Builds and Spot Demand Stays Weak

Bitcoin briefly spiked to $90,600 on Wednesday before retreating after the US Federal Reserve left interest rates unchanged, underscoring the market's macro sensitivity. Traders are now watching the $93,500 level, where over $4.5 billion in short positions could face liquidation and potentially trigger a sharp upside move. However, negative Coinbase premiums, risk-off indicators, and neutral whale activity point to fragile momentum driven mainly by leverage rather than strong spot buying.