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Bitcoin experienced a significant uptick of 2.91% in the last 24 hours, positioning its current price at $84,142. Despite this surge, a decline in consumer confidence raises concerns about potential shifts in economic activity, which may adversely affect the demand for speculative assets like Bitcoin. Analysts observe that the BTC price faces substantial resistance within the $84,000 to $85,000 range, while maintaining crucial support at $75,000. Breaking the $85,000 barrier could lead to further upward momentum towards $90,000. Market participants are advised to keep a vigilant eye on liquidity levels and institutional inflow trends. For those considering a long-term strategy, accumulating positions during retracements to the $75,000 to $78,000 zone, which is fortified by strong support, may present a prudent opportunity.
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