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# Bitcoin’s recent recovery phase and its potential implications
After a period of intensified market pressure and investor anxiety, Bitcoin shows promising signs of resurgence. The crucial technical levels previously lost to market volatility have been redeemed, indicating a paradigm shift in market sentiment from an overwhelming wave of fear to a cautious sliver of hope. Bitcoin’s value now stands firm above the critical $85,000 mark, signalling a potential return of bullish players to the cryptocurrency arena. However, hurdles remain in the path of a full-scale recovery rally – the task of reclaiming the $90,000 benchmark.
While this rebound brings a breath of fresh air to the highly volatile cryptocurrency market, there is an undercurrent of continued uncertainty. Fresh on-chain data from Santiment reveals a sizable transfer of 5,186 BTC to exchanges. Such considerable inflows to exchanges often precede heightened fluctuations, potentially indicating an amplified sell-side pressure. The coming days will witness a tug of war between buyers and sellers that could either mark a breakthrough or disrupt the current momentum.
## Bitcoin surpasses $85K, but exchange inflows may pose a risk
In recent times, Bitcoin has been inching steadily upwards, surpassing the $85,500 threshold in an attempt to kindle a recovery rally. This motion arrives on the heels of weeks of stagnant trading and disarray that ensued following Bitcoin’s drastic plunge from its peak in January. The larger crypto market has also been grappling with instability due to escalating trade war apprehensions and abrupt economic decisions by the US President, Donald Trump. Such global economic uncertainties have set investors on edge, contributing to the fall in both the crypto and equity markets.
Although the recent price movement holds a promise of recovery, the market sentiment continues to sway on the side of caution. Many market analysts speculate that Bitcoin might have already reached its peak at $109K and caution about a potential bear market looming over the next 6-12 months.
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## Bitcoin’s Price faces a hurdle at $88K threshold
Bitcoin currently trades at $87,400 after rising above the 200-day moving average (MA) and the exponential moving average (EMA), indicating a short-term bullish sentiment. The next line of action for the bulls is battling the $88,000 threshold – a formidable resistance point separating the current range from a comprehensive recovery towards $90K.
However, this target poses a significant challenge. Despite the bullish sentiment, the zone between $88K and $90K is heavily fortified by sell-side pressure. Therefore, any sign of weakening could swing the momentum towards the bears. Conversely, if Bitcoin manages to break and hold above $88K, a rapid rally towards the $90K mark might follow, fuelling the bullish momentum, and reviving investor confidence.
### Is Bitcoin (BTC) a good long-term investment?
Investing in Bitcoin (BTC) has been considered attractive due to its scalable architecture and low transaction fees. However, like any investment, it requires meticulous analysis of market trends, development updates, and competitive positioning before making a decision. Regardless of the challenges ahead, Bitcoin’s journey in the coming days will be critical, determining whether it is gearing up for a breakout or preparing for another wave of selling pressure.
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