Bitcoin price witnessed sharp recovery after Monday’s fall

The Bitcoin price was trading at $83,570, and buyers have bounced back after aggressive selling. The 24-hour volume has kept rising for the past 3 days and has reached $32.041B. The funding rate has remained positive since 11 October, which suggests that perpetuals are buying and the price may remain bullish. The Bitcoin price dropped by 2.28% on Monday but buyers bounced back and almost covered this fall. The BTC price was defending a support level of $81,300. If the price sustains over this level, buyers might lead the trend and can extend to the $90,000 level in the next few weeks. If buyers fail to defend this level, the price could melt to the immediate support level of $75,500.