Bitcoin price outlook: analyst warns it’s ‘premature’ to say bear market is over
#Markets Bitcoin Price
Bitcoin trades around $67,500. The asset rose near $70,000 but faces resistance. Analyst Rekt Capital warns it is too early to say the bear market is over. We see BTC retreat from $70,000, and social media is buzzing about a potential bottom.
Bitcoin is trading around $67,500. The price moved close to $70,000 but hit strong resistance. Analyst Rekt Capital warns that it is premature to declare the bear market finished. BTC is hovering near $67,500 after pulling back from $70,000 highs. The Wednesday spike caused chatter on Crypto Twitter to shift toward a potential bottom and a sharp rally. Bullish sentiment is still present, but we should be cautious. US spot Bitcoin ETFs have seen fresh inflows, reducing year-to-date outflows to under $2 billion. Bitcoin is retreating from $70,000 as one analyst warns of further declines. Macroeconomic and geopolitical issues have made it hard for Bitcoin to break higher since February’s lows near $60,000. Yet, BTC surged toward $70,000 ahead of Nvidia’s earnings report. Like equities, Bitcoin gained on anticipation of Nvidia’s results. But despite strong AI-driven numbers, stock futures stalled and BTC pulled back to $67,500. Nvidia shares fell over 5% at the open, impacting BTC. Many traders remain upbeat because US spot Bitcoin ETFs recorded over $750 million in net inflows recently. We must weigh these inflows against the broader market risks. The market structure is still uncertain, so we need to watch the next few days closely. I think the key is to monitor the $70,000 resistance level. If we break it, the trend might shift. If not, we could see further retracement. What are your thoughts on the current market structure?
