ChainThink report, on March 6, Bitcoin rebounded to $74,000 recently before retreating to around $70,000, sparking clear market divergence over whether this level has formed a temporary top.

Some analysts argue the current price action closely mirrors the mid-bear market structure of 2022. Data shows Bitcoin reached a peak of $126,000 in October 2025, followed by a retracement high approximately 149 days later—a timing window consistent with prior cycles. Some traders believe this rally may merely be a liquidity-driven pump, with prices potentially falling further below $60,000 and even testing the liquidity-heavy zone between $62,000 and $65,000.

However, other analysts hold opposing views, asserting that a temporary bottom has formed near $60,000. Unlike in 2022, this correction did not decisively break below the 200-week Exponential Moving Average (EMA), but instead completed a retest and rebound, indicating stronger market structure. Additionally, sustained inflows via spot ETFs and tightening market supply are seen as key factors supporting price resilience.

Bullish analysis suggests that as long as the critical support at $70,000 remains intact, the market still holds potential for a new upward move targeting the $75,000 to $80,000 range.