Bitcoin has experienced a recovery rally, surging 6% in the past 24 hours and driving the total crypto market cap back to $3 trillion. The price of Bitcoin currently stands at $92,358, with anticipation of a potential breakout rally that could surpass the critical $106,000 supply zone. Technical analysis suggests the possibility of an uptrend, with indicators such as the Chaikin Money Flow Index and the Directional Movement Index pointing towards positive momentum. However, institutional support for Bitcoin remains weak, with net outflows for U.S.-spot Bitcoin ETFs. On the other hand, Donald Trump's World Liberty Financial has made a significant purchase in the crypto market, acquiring $21.5 million worth of crypto assets. The chances of a breakout rally in Bitcoin are growing, and Fibonacci levels suggest an optimistic target of $127,800 as the next potential all-time high. The support trendline near $84,000 is crucial for Bitcoin's price.



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