There was a significant liquidity pool around 92k.

Typically, during a liquidity hunt, we would have tapped 92k and seen an immediate rejection — but that hasn't happened here. Interestingly, most of the buying activity consists of spot limit orders, with minimal involvement from futures longs. This indicates a much healthier pump.

Additionally, there’s a notable build-up of short positions in the 97–101k range, which appear poised for liquidation.