The price of (BTC) surged above $9,000, demonstrating a decent recovery in the last 24 hours. Market data shows a further upsurge to the $9,300 to $9,400 range is likely in the near-term.
Three key reasons increase the probability of a minor rally: liquidation of 25x to 50x shorts are at $9,300, whales using the Goldman Sachs (NYSE:) narrative and low funding rates in the futures market.