Bitcoin's price volatility has increased as bulls attempt to break the $27,500 resistance. However, on-chain data shows positive signals for a potential price increase. Large transactions on the Bitcoin network have recovered after a recent fee hike, and Bitcoin supply on exchanges is at a 60-day low.
This could lead to a scarcity in the market and a potential price surge. If the bullish momentum continues, Bitcoin may rally towards $28,000, but key resistance levels must be overcome. However, failure to hold key support levels could result in a decline towards $25,000.
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