Bitcoin Rallies Towards $90K as Resistance Zone Comes into Focus

Bitcoin is testing the resistance zone of $87,000 to $88,000 after climbing back towards $86,000 on Friday.

The cryptocurrency's price has been helped by easing US Treasury yields and $200 million of short liquidations over 24 hours.

Nicolai Sondergaard, a senior research analyst at Nansen, notes that $87,000 is the next key level after $85,000, with $90,000 becoming the psychological target if that barrier breaks.

Bitfinex's framework identifies Bitcoin's $87,722 yearly open as the major upside test, and a sustained break above that level, accompanied by stronger ETF inflows, would open a path towards its mean-MVRV level near $96,700.