The Bitcoin price has seen a 2.04% surge, bringing it close to the $97,000 mark and reclaiming its $1.9 trillion valuation. There are signs of a recovery rally in progress, with potential for the price to reach $100,000. Technical indicators are giving a strong buy signal for Bitcoin, but institutional investment remains underwhelming. Bitcoin derivatives data shows an increase in open interest and a bullish long-to-short ratio, but traders are hesitant to pay a high premium, indicating the possibility of a short-term correction. The price action analysis suggests a potential retest of the 200 EMA line, with immediate resistance at $99,514 and crucial support at $95,119.



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