Bitcoin price rebounds and breaks through the $70,000 mark, currently at $70,250, up 4.8% over the past 24 hours. Bitcoin has been gradually stabilizing for several days.
(Previous context: CryptoQuant: Bitcoin’s “ultimate bear market bottom” at $55,000, bottoming out will take months, six key indicators all not in place)
(Additional background: CPI cooling causes Bitcoin to surge to $69,000, with a $360 million short squeeze! But the fear index remains at 9: Is the market bottom near?)
Bitcoin continues to slightly rebound, officially reclaiming the $70,000 level today. Polymarket data shows that traders’ confidence in Bitcoin reaching $70,000 this month has risen to 71%, a significant increase from 62% a week ago.
However, some analysts view this rebound as a “bear market relief rally” rather than the start of a new upward trend, with short-term resistance around $71,000. The market is currently watching to see if Bitcoin can hold above $70,000 and further challenge $75,000.
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