Bitcoin's price has experienced a short-term recovery, reclaiming the $94,000 level and showing signs of bullish momentum. The recovery has been driven by significant demand at the $90,742 support level, resulting in three consecutive bullish candles. However, the convergence of the 50 and 200 EMA lines may pose a threat of a potential death cross. Despite the recovery, there have been significant liquidations, with $367 million liquidated in the past 24 hours. The long-to-short ratio still favors shorts, but the funding rate for long positions is gradually improving. Bitcoin is approaching the $95,190 resistance level, and a breakout could face resistance at the 200 EMA, while a reversal could test the $90,742 support level.



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