The pressing question now is whether Bitcoin can muster enough buying pressure to challenge its current record high around $73,835.

After plummeting 17% from its all-time high, Bitcoin price has recovered near the key psychological level of $60,000. This resurgence has reignited hopes that the bullish trend may still be in force.

The $60,000 price level has now solidified as a key support level that could prevent any further sell-off from spiraling out of control. As long as Bitcoin maintains its position above this threshold, the overall bullish momentum remains. original.

The pressing question now is whether Bitcoin can muster enough buying pressure to challenge its current record high around $73,835.

Bounces off key support levels like $60,000 often create opportunities for invigorating rallies, although the extent of future corrections is uncertain.$BTC #hotTrends

However, technical indicators on higher timeframes are flashing fresh bullish signals. The relative strength index (RSI) on the 4-hour chart has broken above the 50 average, traditionally seen as signaling the presence of bullish momentum. On-chain data and derivatives metrics are also hinting at continued upside potential for the leading cryptocurrency.