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#BTC能否重返7万美元？
Bitcoin recently surged then pulled back, quickly retreating after approaching $70,000. The market's biggest concern: can it return to $70,000? My conclusion is clear: a short-term rebound to test $70,000 is possible, but it’s unlikely to stabilize effectively, and the main trend remains consolidation.
From the market perspective, BTC previously touched $69,000, just a step away from $70,000. The oversold rebound momentum still exists. Coupled with strong support at $65,000–$66,000, on-chain selling pressure has eased, and some funds are entering at lows, making it highly probable that the price will attempt to retest the $70,000 level again.
However, returning to $70,000 does not mean a trend reversal. There are three major resistances: first, ETF funds have still net outflows of $1.7 billion this year, and single-day inflows are insufficient to reverse the downward trend; second, the market is highly correlated with tech stocks, and volatility in stocks like Nvidia directly drags down the crypto market, with risk appetite not yet restored; third, there is dense capitulation, and any rebound faces selling pressure, making sustained volume breakthroughs difficult.
Most institutions believe this is a confidence crisis rather than a fundamental collapse. The underlying infrastructure remains stable, with medium-term expectations of bottoming out, but the process will involve repeated fluctuations.
In terms of trading strategy, around $70,000 is a strong resistance level, and the risk of retreat after touching it is high. Conservative traders should avoid chasing highs and mainly observe; aggressive traders can take small positions at support zones, and gradually reduce holdings if the price rebounds to $69,000–$70,000.
In one sentence: Bitcoin can return to $70,000, but it’s just a rebound, not a reversal. Staying above $70,000 is a sign of a stronger trend. Until then, strictly control positions and avoid blindly bottom-fishing.
Bitcoin recently surged then pulled back, quickly retreating after approaching $70,000. The market's biggest concern: can it return to $70,000? My conclusion is clear: a short-term rebound to test $70,000 is possible, but it’s unlikely to stabilize effectively, and the main trend remains consolidation.
From the market perspective, BTC previously touched $69,000, just a step away from $70,000. The oversold rebound momentum still exists. Coupled with strong support at $65,000–$66,000, on-chain selling pressure has eased, and some funds are entering at lows, making it highly probable that the price will attempt to retest the $70,000 level again.
However, returning to $70,000 does not mean a trend reversal. There are three major resistances: first, ETF funds have still net outflows of $1.7 billion this year, and single-day inflows are insufficient to reverse the downward trend; second, the market is highly correlated with tech stocks, and volatility in stocks like Nvidia directly drags down the crypto market, with risk appetite not yet restored; third, there is dense capitulation, and any rebound faces selling pressure, making sustained volume breakthroughs difficult.
Most institutions believe this is a confidence crisis rather than a fundamental collapse. The underlying infrastructure remains stable, with medium-term expectations of bottoming out, but the process will involve repeated fluctuations.
In terms of trading strategy, around $70,000 is a strong resistance level, and the risk of retreat after touching it is high. Conservative traders should avoid chasing highs and mainly observe; aggressive traders can take small positions at support zones, and gradually reduce holdings if the price rebounds to $69,000–$70,000.
In one sentence: Bitcoin can return to $70,000, but it’s just a rebound, not a reversal. Staying above $70,000 is a sign of a stronger trend. Until then, strictly control positions and avoid blindly bottom-fishing.