Returning to 70,000: Bull Market Revival or Emotional Show?

Regarding whether Bitcoin can return to $70,000, the market is divided into two camps. Bulls believe the trend remains unchanged, while bears see it as just a technical rebound.
Historically, BTC breaking through key round numbers usually involves three stages: the first stage of short covering, the second stage of chasing after missed opportunities, and the third stage of trend confirmation by institutional funds. Currently, we are most likely transitioning from the first to the second stage. Only if it can attract continuous inflows of spot funds, rather than just contract-driven rallies, will there be a true structural recovery.
Another key variable is macro liquidity. If risk asset sentiment remains stable, BTC will find it easier to break through; if external conditions turn cold, $70,000 becomes a "psychological high wall."
Humorously speaking, BTC now feels like testing a password at the door—one wrong move sends you back two steps, one correct move pushes you in. The key lies in trading volume and patience.
The bull market is not a straight line; it’s a spiral. Returning to $70,000 may not be the end, but a rhythm confirmation.
#BTC能否重返7万美元？