Over the past week, the Bitcoin price had its best performance since the 
infamous October 10 downturn, which led to the largest liquidation event in 
crypto history. The premier cryptocurrency seems to be on a recovery path, 
returning above the $90,000 mark on Wednesday, November 26. Despite the 
several calls of the bear market in recent weeks, the crowd has returned with 
hopes of the BTC bull run resuming. However, a prominent on-chain analyst has 
come forward with an interesting analysis of the current Bitcoin price 
outlook. BTC Price To Continue Within $70,000 &#8211; $90,000 Zone: Analyst In a 
November 28 post on the X platform, CryptoOnchain shared an evaluation of 
Bitcoin’s current price action around the $90,000 level. According to the 
crypto pundit, recent on-chain data suggests that the market leader is at risk 
of a rejection at its current price level. Related Reading: Fed To End QT In 
December: Will Bitcoin Mirror The Massive Price Crash From Last Time? 
CryptoOnchain highlighted that the Bitcoin price lost a significant support 
level at $90,000 when it initially fell to around the $80,000 mark a week ago. 
Now, the price of BTC is looking to make a sustained close above the $90,000 
level after bouncing back from the Point of Control (POC) near $82,000. In 
crypto trading, the point of control (POC) refers to the price level with the 
highest volume of trading activity within a given period. It basically 
represents a zone where buyers and sellers are equally matched, leading to the 
formation of support or resistance. After bouncing from the POC around 
$82,000, CryptoOnchain said the flagship cryptocurrency has now settled into a 
“clear” consolidation zone between the $70,000 and $90,000 region. While the 
Bitcoin price currently sits above $90,000, the analyst noted that the market 
leader faces potential rejection. This conclusion was drawn from on-chain 
data, which shows that large amounts of Bitcoin have been flowing into 
Binance, the world&#8217;s largest crypto exchange by trading volume. According to 
CryptoQuant, the crypto exchange has seen over $2 billion worth of BTC in the 
past seven days, which could put some downward pressure on the price. Besides 
the potential selling pressure, there is limited buying power to absorb the 
extra BTC supply that might hit the open market from sales. CryptoOnchain 
shared that the net stablecoin inflow on Binance stands at approximately $735 
million, which means limited potential demand or buying power. With this 
“clear supply-demand imbalance,” CryptoOnchain concluded that a rejection from 
the $90,000 mark and sideways movement within the $70,000 &#8211; $90,000 
consolidation zone is the likely scenario for the price of BTC. Bitcoin Price 
At A Glance As of this writing, the price of BTC sits just above $91,000, 
reflecting no significant movement in the past day. Related Reading: Top 
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Featured image from iStock, chart from TradingView

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The Bitcoin market experienced a moderate price rebound over the past week, 
following a prolonged period of price correction that began in early October. 
The flagship cryptocurrency is now trading above $90,000, with hopes building 
for a potential push back toward its all-time high of $126,100. Notably, 
popular market analyst KillaXBT has flagged a key price zone that could serve 
as the next target in this relieving market recovery. Related Reading: Bitcoin 
Must Break Key Supply Clusters To Regain ATH Momentum – Watch These Levels 
Bitcoin Headed To $95k-$96k, But Price Pullback May Occur First &#8211; Analyst In 
an X post on November 28, KillaXBT shares some compelling insights on 
Bitcoin’s price condition, highlighting both bullish and bearish tendencies. 
Following the asset’s gain of 7.22% in the past week, the analyst predicts 
that market bulls are likely to drive prices to around $95,000-$96,000, which 
contains strong, heavy illiquidity pockets and several liquidation clusters. 
For context, these zones are attractive to price because they contain large 
concentrations of resting orders, making them high-value liquidity targets. 
Liquidation clusters, in particular, hold groups of leveraged positions that 
trigger forced buying or selling once the price reaches them, injecting fresh 
liquidity into the market. However, KillaXBT cautions that this upside move 
may not occur immediately, noting that the market often delays sweeping major 
liquidity zones ahead of key macro events. With the upcoming Federal Open 
Market Committee (FOMC) meeting expected to deliver clarity on potential rate 
cuts, traders may see continued liquidity building below the yearly open in 
the near term. According to the analyst, these upper liquidation levels are 
still likely to be cleared, but the timing could align more closely with next 
month’s policy announcement rather than the current market cycle. The analyst 
outlines a potential scenario in which Bitcoin experiences a minor pullback to 
around $93,000 before retesting $89,200. From there, the asset could move 
toward the $95,000–$96,000 target, in line with expectations for a potential 
FOMC rate adjustment. However, KillaXBT also highlights the possibility that 
Bitcoin may reach these key liquidation zones before the FOMC meeting. In such 
a scenario, the market could see a rapid surge to $96,000, followed by a sharp 
drop to around $89,200 due to potential liquidations, before eventually 
returning to these upper liquidity zones. Following this analysis, KillaXBT is 
opting for a short position, which he intends to reassess in relation to 
market trends as the FOMC approaches. Interestingly, the analyst believes the 
real short-term opportunity only comes after the FOMC’s announcement. Related 
Reading: Bitcoin STH Loss Transfers Fall 80% From Peak – What Comes Next? 
Bitcoin Price Overview At the time of writing, Bitcoin trades at $90,490, 
reflecting a slight 0.64% decline in the past day. Featured image from 
PixelSquid, chart from Tradingview

Analyst Sets Bitcoin Next Target At $95k-$96k – Here’s Why

Bitcoin miners caught a break on Thursday as difficulty dropped, but the 
relief may be short-lived if it rises in December, as forecast.

Cryptocurrency price in BTC