Bitcoin's (CRYPTO:BTC) price rebounded to $57,206 after hitting a low of $53,550, showing an intraday range between $54,296 and $58,441.

The market capitalisation stands at $1.12 trillion with a 24-hour trade volume of $33.69 billion.

The 1-hour chart indicates a sharp recovery with support at $54,296 and resistance at $58,441, driven by increased buying interest.

On the 4-hour chart, key support is at $53,550, with resistance at $62,196, reflecting cautious optimism.

The daily chart shows a long-term downtrend from $71,949 to $53,550, with potential buying opportunities indicated by mixed oscillators and volume spikes during recoveries.

Despite bearish signals from moving averages, significant volume during upward movements suggests a potential bullish reversal if support levels hold.