Bitcoin Eyes $95K – Can the Rally Continue?

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A favorable CPI print puts Bitcoin on track to liquidate $300 million in short positions, which might fuel a 12% rally over the next two weeks.

Bitcoin’s price was up 3% after constant drawdowns since the end of January. The top cryptocurrency managed to rebound above $80,000 after a brief decline below the range on March 11.

After the US core Consumer Price Index (CPI) came in lower than expected at 3.1% on March 12, Bitcoin's market structure now sees the possibility of a quick bullish turnaround.

Bitcoin liquidity clusters at $84K-$85K

After Bitcoin's price tumbled on March 9, it rebounded to test the overhead resistance zone between $84,000 and $85,000 three times, spurring traders to aggressively build short positions in this range.


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