$70,000 old friends are back, or just passing through?

When Bitcoin reclaims $70,000, the market atmosphere is like a reunion of long-lost classmates—exciting yet a bit uncertain. The question is, is this a technical rebound or the start of a trend reversal?
From a structural perspective, returning to a round number itself has psychological significance. Whole numbers act like mental checkpoints; once broken, FOMO emotions tend to heat up. But the real key is not just “standing above,” but “staying steady.” If there’s a volume breakout followed by a pullback with decreasing volume, the trend will feel more genuine; if it surges and then repeatedly oscillates, it’s more like emotional recovery.
Rebounds are usually accompanied by short covering, while reversals require increased capital inflow. The difference lies in sustainability. A rebound is like a spring—bounces once and stops; a reversal is like a conveyor belt—gradually pushing prices forward.
Humorously speaking, $70,000 is like a VIP ticket. Getting the ticket doesn’t guarantee a great movie, but at least it shows the audience has returned.
To judge the direction, don’t rely on slogans—look at trading volume and structure. The market won’t automatically upgrade just because of a “bull market return” statement. True reversals happen quietly when most people are half-doubting.