Bitcoin's price has rebounded over 11% after hitting a low of $74,400, with analysts indicating potential for further recovery if it maintains above $81,500. Analyst AlphaBTC suggests that Bitcoin's stability above this psychological level may signal a sustained upward trend as short positions are squeezed. Concurring, Rekt Capital asserts that a weekly close above $80,500 is essential for recovery, warning that Bitcoin is not out of the woods. Onchain data from Glassnode shows signs of 'near-term seller exhaustion,' noting reduced realized losses, which could indicate a shift in market sentiment. Additionally, Bitcoin's recent movements suggest a possible 'W-shaped' bottom formation, which, if validated, could see prices rising toward targets of $88,800 and potentially $106,000. The indicators and analyst sentiments reflect cautious optimism regarding Bitcoin's trajectory following recent sell-offs.

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