According to ChainCatcher, after Bitcoin retreated from its local high of $74,000, uncertainty surrounding its future direction has increased. The market appears to be facing a critical juncture, and it is expected that the sustainability of the breakout will soon be revealed. Data disclosed by on-chain analyst exitpump shows that spot buying on Binance remains strong, the order book imbalance is not significant, and long-term conditions have improved. However, some analysts hold a bearish stance, believing that recent weak trading volume and a divergence at the high point suggest that the current rebound may simply be a pullback from previous support levels that have now become resistance, and Bitcoin may decline further in the short term.
CoinGlass data shows that Bitcoin's price has broken through the buying liquidity zone around $71,000, and its next move may be closely watched by the market.
