Bitcoin Rebounds to $74K Sparks Debate, Market Divided on Whether It's a "Bull Trap"

BlockBeats News, March 6th, Bitcoin recently rebounded to $74,000 and then fell back to around $70,000. There is a clear divergence in the market on whether a temporary top has been formed at this level.

Some analysts believe that the current trend is highly similar to the mid-term structure of the 2022 bear market. Data shows that after reaching a high of $126,000 in October 2025, Bitcoin experienced a rebound high approximately 149 days later, a time window similar to the two previous cycles. Some traders believe that this round of increase may just be a liquidity-driven fakeout, and the price may still fall further to below $60,000, even testing the liquidity-dense area in the range of $62,000 to $65,000.

However, some analysts hold the opposite view, believing that a temporary bottom has formed near $60,000. Unlike 2022, this round of pullback has not effectively dropped below the 200-week Exponential Moving Average (EMA) but has instead rebounded after a retracement, indicating a stronger market structure. Furthermore, institutional funds continue to flow in through spot ETFs, and a tightening market supply are also seen as crucial factors supporting the price.

Bullish analysts believe that as long as the key support at $70,000 remains valid, the market still has the opportunity to initiate a new uptrend towards the $75,000 to $80,000 range.