Analyst: BTC retraces to test the $86,000 support level, market sentiment tends towards optimism

According to the analyst Crypto Big Hunter on X, this morning, after Bitcoin (BTC) tested the support level of $86,000, it received support from the short-term trend line. Observing the relationship between volume and price, the trading volume gradually decreased during the decline period, indicating that selling pressure is weakening. In addition, the price rebound has broken through the short-term supply line, implying that a correction may have ended and there is a high probability that support levels will hold steady. Looking at capital flows, stablecoin supplies continue to increase; in just one day USDT supply increased by $650 million and USDC by $200 million with funds continuously flowing into centralized exchanges (CEX). Furthermore, some exchange's USDT lending rates have dropped to around 12%, close to pre-US election levels. Considering these factors together shows more positive signals for market outlook which appears bullish.