Bitcoin's price has exhibited a robust recovery, surging above $97,000 after an initial drop below $93,000. This market movement came in response to the release of the US CPI data for January. The sudden price changes have led to a significant $75 million in BTC liquidations within the short span of 24 hours.
Market analysts are now evaluating whether Bitcoin can maintain this upward trajectory to surpass the crucial resistance level of $97,530. The outcome remains uncertain, with both potential for further gains or risk of a substantial downturn.