Bitcoin Price Rebounds After Brief Consolidation

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Bitcoin's short-term rebound indicates that the market remains confident in it. Although the previous consolidation and price correction led some investors to doubt the sustainability of the bull market, the market's quick recovery, along with the involvement of spot buyers and whales, once again proves Bitcoin's strong appeal. The recent rebound not only reflects the market's demand for Bitcoin but also showcases institutional investors' optimistic outlook on its prospects.

According to data from TradingView, the BTC/USD rebound has broken through previous lows and is attempting to challenge the $98,500 VWAP resistance level. If this resistance level is successfully breached, Bitcoin is expected to continue rising and may even hit new all-time highs. In the short term, market volatility remains significant, especially as the liquidation situation in the crypto market indicates drastic fluctuations in investor sentiment. However, overall, Bitcoin's multiple favorable factors—renewed institutional interest, increased mainstream adoption, and clearer regulatory environment—are providing strong support for its long-term growth.

The participation of institutional investors, especially against the backdrop of changing global financial conditions and the gradual recognition of the crypto market's potential, may continue to drive Bitcoin higher. Additionally, regulatory clarity, particularly in terms of policy support from the United States, will further enhance market confidence and attract more capital into Bitcoin.

Do you think Bitcoin can break through $98,500 and set a new high in the short term?