Bitcoin (BTC) gains 4% as macro data boosts market sentiment. Analysts renew six-figure BTC price calls with $95,000 as key support.
Bitcoin Gains Momentum, Eyes $95,000 as Macro Data Supports Bulls
Bitcoin (BTC) saw a confident rebound on Nov. 27, gaining nearly 4% to reclaim losses from earlier in the week. Trading at approximately $96,677, BTC is seeking to reestablish support at $95,000, buoyed by optimism surrounding U.S. macroeconomic data.
Renewed market strength followed the release of key indicators, including jobless claims and the Federal Reserve’s Personal Consumption Expenditures (PCE) Index, which aligned with market expectations. The likelihood of a 0.25% interest rate cut in December rose to 66%, according to CME Group’s FedWatch Tool.
Order Book Liquidity Supports Bullish Sentiment
Market Dynamics
Order book liquidity remains wide, with demand laddered down to $85,000, according to trader Skew.
Reduced sell-side liquidity on Binance helped fuel BTC’s recovery.
Passive Buying Activity
Market commentary noted significant passive buying, with Skew explaining, "Passive buyer bought into both LTF lows," signaling strong interest near recent price troughs.
MACD Indicator Signals $100,000 BTC Price
Short-Term Resistance
While optimism around Bitcoin’s trajectory builds, some analysts caution against an immediate six-figure target. Monitoring resource CoinGlass highlighted a sell wall at $100,000, suggesting deliberate resistance at this milestone.
Bullish Crossover
On the other hand, Bitcoin’s 4-hour MACD indicator is on the brink of a bullish crossover, with social media analyst Bitcoin Munger confidently stating, “$100k is coming whether you like it or not.”
Market Sentiment in a Bull Market
Fellow trader Roman reflected the prevailing optimism, emphasizing Bitcoin’s bull market status:
“Once the calls for $70K were becoming loud, it was obvious we’d get a clean upward move.”
Bitcoin’s price action continues to defy bearish calls, as analysts point to a robust long-term outlook amid macroeconomic and technical tailwinds.
Key Levels to Watch
Support Levels: $95,000 (psychological level), $85,000 (order book demand).
Resistance Levels: $100,000 (major sell wall).
Indicators: 4-hour MACD bullish crossover, wide liquidity landscape.
Six-Figure BTC in Sight?
With $95,000 reclaim efforts underway, Bitcoin (BTC) appears positioned for further gains, backed by strong market sentiment and technical signals. While immediate six-figure levels face resistance, the trajectory remains bullish, making $100,000 a likely target in the coming months.
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