Current Market Situation

- Bitcoin recently peaked near $86,000 and is currently trading around $84,000, with some analysts predicting a potential drop to $74,000 or lower.

- Others believe the rebound will continue, with potential targets of $85,500 to $86,300, and even higher to $96,000-$98,000, driven by factors like Fed rate cuts and improved investor sentiment ¹.

Key Levels to Watch

- *Resistance*: $85,500-$86,300

- *Support*: $84,800, with further support at $84,000-$83,500

Expert Opinions

- Some analysts expect a short squeeze, citing extreme fear in the market and the potential for a technical rebound.

- Others recommend shorting rallies near $86,000 and buying dips around $74,000 ¹ ².

Recent Rebound News

- Bitcoin has rebounded above $67,000, marking a significant recovery from recent lows.

- Some analysts attribute the rebound to slowing outflows from Grayscale's GBTC and improved market sentiment ³ ⁴.