Recently, the price of Bitcoin has been fluctuating around the 95,000 line, with very unstable trends. As soon as the market opened today, the price dropped, hitting a low of around 93,600, but quickly rose back above 94,500, as if someone deliberately drove the price down and then pulled it back up. From the price chart, it looks like a cross with a long tail, indicating that the market maker is shaking out weak-handed retail investors.

Now, above the 95,000 line, many people are eager to sell Bitcoin, with nearly 32,000 sell orders piling up, becoming a significant resistance to the rise. However, at the 93,600 level, wealthy players (whale accounts) are secretly buying in large quantities. Moreover, the amount of Bitcoin stored in exchanges is decreasing, reaching a seven-year low, indicating that a lot of Bitcoin is being hoarded.

Before the Federal Reserve announces its interest rate decision, the market seems calm on the surface, but in reality, there is fierce competition among major institutions. BlackRock's Bitcoin fund is raking in $970 million a day, while on the other hand, hedge funds are frantically shorting. Additionally, the U.S. is imposing taxes on mining companies, forcing some small mines to sell Bitcoin for cash, although large mines are still holding up, and overall hash rate hasn’t dropped significantly. More importantly, Mastercard has partnered with OKX to launch cryptocurrency credit cards, making it more convenient to spend Bitcoin in the future.

Next, the $95,500 mark is a crucial threshold for Bitcoin's rise; if it can steadily exceed this price, it is likely to surge towards $100,000.

However, looking down, the 93,500 line is particularly important, as it is not only the gap position for futures trading but also the price where mining costs and institutions are willing to support. PCE data will be released tonight at 22:30; if the Federal Reserve's stance is mild, Bitcoin's price is likely to surge; but if the data is poor, the market maker might first drive the price down before pushing it back up, so everyone should be cautious.

Big Bitcoin 95,300-95,800 nearby short, looking down at 93,500-94,000.

Second Bitcoin 1,860-1,830 nearby short, looking down at 1,750-1,700.