BTS
03-09 03:54

The $70,000 breach, driven by a short squeeze and liquidations, was followed by a retreat, highlighting the level as a psychological ceiling; for Bitcoin to sustain its uptrend, sustained volume is needed to turn this resistance into support amid macroeconomic uncertainty

The formation of lower highs could indicate weakening buying pressure; however, this may just be a natural phase in the volatile Bitcoin cycle; conversely, recent bounces off local lows are signaling a possible slowdown of the bearish momentum, yet the battle remains between technical resistance and building on-chain strength

If Bitcoin consolidates above $70,000, it could be preparing for another upward move; failure to hold this level may signal the rally has paused and lead to a prolonged correction

The long-term trajectory of Bitcoin remains bullish due to increasing institutional adoption and its growing role in the global economy; despite short-term cyclical cooling, the scarcity narrative remains intact。。。

Can Bitcoin Sustain Its Uptrend After Breaking $70,000?

@Tiger_comments：
After a sluggish February, the crypto market has staged a strong rebound in early March. Yesterday (Mar 5), Bitcoin broke out of its consolidation range, briefly touching $74,000, with a 24-hour gain of nearly 8%. Ethereum reclaimed $2,100, and the altcoin market broadly recovered as overall market momentum shifted upward. However, after a huge rebound, Crypto Fear & Greed Index went back to “Extreme Fear” zone again. Technical Outlook: Will Today’s Pullback Reverse the Rally? On the daily chart, Bitcoin has not produced a sustained sequence of bullish candles for nearly half a month, indicating that previous rebounds lacked follow-through. The key level now sits around $74,500. If Bitcoin closes today with a strong bullish candle and holds above $74,500, it could form a breakout continuation pattern, signaling that bulls are firmly back in control. However, if price quickly turns bearish, traders should be cautious of a potential bull trap at higher levels. Key Levels: First entry zone: $71,500 – $72,000 (strong pullback support) Major defense level: $70,000 psychological support (key level for support-resistance flip) Is $60K–$70K a Strong Accumulation Zone? Glassnode data reveals an important signal. During February’s consolidation, roughly 400,000 BTC were accumulated between $60,000 and $70,000. Supply held in this range surged from 997,000 BTC at the beginning of the year to 1.43 million BTC, representing over 8% of the circulating supply outside exchanges. This dense accumulation band suggests that even if prices pull back, the $60K–$70K zone may provide strong structural support, while selling pressure has significantly diminished. Trump, Saylor, and Wood: How Do They View Bitcoin? Recent remarks by Donald Trump on Truth Social have reignited expectations around the “CLARITY Act of 2025” (Digital Asset Market Clarity Act). If passed, the bill could ease the long-standing tension between the banking sector and the crypto industry, potentially ending months of market stagnation. Michael Saylor’s $Strategy(MSTR)$ now holds over 720,000 BTC. Despite the company’s average cost around $76,000, Saylor continues to argue that Bitcoin is currently in a stage similar to Apple’s early “valley of despair” period before its major growth cycle. Meanwhile, Cathie Wood of $ARK Innovation ETF(ARKK)$ emphasizes Bitcoin’s low correlation with traditional assets as the key reason institutions are allocating capital to it. She also notes that the current V-shaped rebound may indicate the market has already reached a potential technical bottom. Discussion How do you view Bitcoin’s rebound above $70,000? Is the market forming lower highs, signaling a possible slowdown? Has this rally already paused, or is it preparing for another leg higher? And more importantly, do you remain bullish on Bitcoin’s long-term trajectory? Leave your comments to win tiger coins~
Can Bitcoin Sustain Its Uptrend After Breaking $70,000?

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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