Bitcoin rebounds to $74,000 sparking debate, with the market arguing whether this is a "bull trap"
BlockBeats news, on March 6, Bitcoin recently rebounded to $74,000 before falling back to around $70,000. There is a clear divergence in the market regarding whether this position has formed a short-term top.
Some analysts believe that the current trend is highly similar to the mid-structure of the 2022 bear market. Data shows that after Bitcoin reached a high of $126,000 in October 2025, a rebound peak occurred about 149 days later, which is close to the time window of the previous two cycles. Some traders believe that this round of increase may just be a liquidity-driven bull trap, and the price could still fall further below $60,000, or even test the liquidity-intensive area in the $62,000–$65,000 range.
However, there are also analysts who hold the opposite view, believing that a short-term bottom has already formed near $60,000. Unlike 2022, this round of correction did not effectively break below the 200-week Exponential Moving Average (EMA), but instead rebounded after a retest, indicating a stronger market structure. In addition, continuous inflows of institutional funds through spot ETF, as well as tightening market supply, are also seen as important factors supporting the price.
Bulls believe that as long as the key support level at $70,000 remains effective, the market still has a chance to launch a new round of upward movement toward the $75,000 to $80,000 range.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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