#MarketRebound

Bitcoin's rebound is showing promise, with its price currently sitting at $86,771.60 after a 2.56% increase. This upswing is driven by various factors, including¹ ²:

- *Institutional Interest*: Growing investment from institutions contributes to Bitcoin's price surge.

- *Market Sentiment*: Positive sentiment among traders and investors supports the rebound.

- *Dip-Buying*: Retail investors buying during price dips drive the recovery.

- *Profit-Taking*: Short-position traders covering their losses also fuels the rebound.

Analysts predict Bitcoin could reach $98,600, but caution is advised due to potential selling pressure. Key support zones to watch are³ ⁴:

- *$93,500*: Holding this level could lead to a price rebound.

- *$95,400-$98,400*: A key demand zone where 1.77 million addresses acquired over 1.53 million BTC