The Real Reasons Why Bitcoin Skyrocketed by $7K Daily: But Can the Rally Last?

• Bitcoin's price surged to over $87,000, reaching an eight-month high despite recent negative macroeconomic developments and setbacks in crypto legislation.
• The significant rise was attributed to nearly $1 billion in ETF inflows and a short squeeze that liquidated over $340 million in short positions.
• Analysts caution that while Bitcoin has moved past lower resistance levels, it now faces major resistance at $85,000 and $95,000, with future price movements dependent on continued ETF demand.

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