Bitcoin Bounces Back from Recent Dip Amid Profit-Taking

Bitcoin's price has experienced a recent dip of 5.7% from $82,300 to $77,620 over five days, but it's showing signs of recovery.

The rebound is attributed to long-term holders selling and taking profits, which has been offset by increased open interest in derivatives and a bullish market structure.

Bitcoin's price remains strong above the $76,000 demand zone, and its recent low has seen a 2.4% increase.

The upcoming CPI reports and rate hike expectations are likely to increase volatility, with the $82,000 resistance zone remaining critical to watch.