Can Bitcoin Still Bounce Back to 90,000 Dollars?

The cryptocurrency market is looking for a foothold after several sessions of decline. Bitcoin is trading around 69,000 dollars, while investors evaluate the latest US inflation figures. For Matt Mena, strategist at 21shares, a return to 87,000 dollars remains possible, with a move above 90,000 dollars in the longer term. However, this outlook depends on specific technical levels and a sustained return of buyers to the market. In his commentary submitted to Bitcoin.com News on November 13, Matt Mena described bitcoin’s recovery as still fragile. The senior research strategist on cryptocurrencies at 21shares observes support around 69,000 dollars. After the publication of the US producer price index, the price tried to recover to the 70,000 dollars level. This reaction suggests some buyers return when selling pressure eases.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to Cointribune.