Bitcoin Reclaims $93K as Bullish Momentum ReturnsBitcoin has bounced back sharply, erasing its steep drop from two days ago and pushing above $93,000 during early Wednesday trading in Asia. The swift rebound follows a rapid plunge to $84,000 during a major leverage washout, but the asset has now fully recovered and is once again testing an important resistance zone. The turnaround has revived bullish sentiment in what many see as an unusually volatile market cycle.Analyst Daan Crypto Trades noted the quick monthly price reversal, explaining that when a new month opens with an immediate, wickless move, those levels tend to get revisited, calling this a textbook example.Market Cap Regains StrengthHe added that total crypto market capitalization reclaimed its June lows and is showing improving structure on shorter time frames. For December to continue higher, he said the market needs to form higher lows and eventually break last week’s high to confirm a short-term uptrend.The overall crypto market cap now sits around $3.2 trillion, per CoinGecko—still about 27% below its early-October peak of $4.4 trillion.Analytics firm Glassnode highlighted the emergence of “large short-liquidation clusters.” While potentially volatile, these events can actually support upward moves since forced buying from liquidated short positions can add momentum.