Bitcoin once again approaches the $70,000 mark, a highly sensitive psychological and technical level.

· The reason to believe it might be a “short-term rebound” is: although it has broken through recent resistance, there is a large amount of trapped positions near the previous high (around $73,000). If subsequent volume cannot continue to grow or if macroeconomic factors (such as Federal Reserve policies) send unfavorable signals, a temporary top could form here, triggering a new round of correction.
· The reason to believe it might be a “reversal” is: the halving event is approaching, and based on historical patterns, the period around halving usually accelerates the bull market. Plus, strong performances and positive movements from institutions like Nvidia (representing AI and tech computing power) and Circle (representing stablecoins and compliant finance) inject confidence into the entire “crypto tech” sector. Both investor attention and fundamental support are strengthening.

I personally lean towards thinking this is more like a deep correction in the mid-stage of a bull market, followed by a restart attempt. $70,000 is not the end, but the process will inevitably be full of volatility and battles. Whether it can hold steady and break through previous highs depends on whether favorable news can continue to ferment in the coming days.

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