$74K Bitcoin Local Peak? Traders Divided on Bear Market Continuation
The post $74K Bitcoin Local Peak? Traders Divided on Bear Market Continuation appeared on BitcoinEthereumNews.com.
Bitcoin (BTC) traded 4.5% below the $74,000 high reached on Thursday, with traders conflicted over whether this level may have marked the local top for BTC price. Key takeaways: Bitcoin charts still show similarities to the 2022 bear cycle, suggesting another leg down below $60,000 is possible. Others say the bottom is in and expect a breakout rally to $75,000–$80,000 to be next. Is the 2022 BTC price cycle repeating? BTC’s current technical structure, following the latest recovery from $60,000, shows similarities with the middle of past bear cycles. Bitcoin’s latest rise to $74,000 came 149 days after its bull market peak of $126,000 in October 2025. Related: Bitcoin ‘anomalous’ outflow sees 32K BTC leave exchanges in a single day “$BTC made a local high around 140–150 days after its all-time high in the previous two cycles before pushing lower,” said analyst Bitcoin Hyper in an X post on Thursday. BTC/USD three-day chart. Source: BitcoinHyper Echoing this view, pseudonymous trader Bitcoin Isaiah called the rally to $74,000 a “perfect local top indicator,” pointing to premature celebrations by the bulls as a signal for further dumping. The analyst referred to the 2022 cycle, when similar euphoria preceded a 68% crash from $48,200 to $15,500, suggesting that history could repeat with a revisit to sub-$60,000 levels. BTC/USD weekly chart. Source: Bitcoin Isaiah Master of Crypto said that the brief pump above $70,000 was a liquidity trap, wiping out both shorts and longs before targeting lower zones between $62,000-$65,000 where more ask-orders are located, adding: “The price usually goes where the bigger money sits.” As Cointelegraph reported, signs of a pullback emerged this week after the rally to $74,000, namely a classic bearish chart pattern and major overhead resistance. Is Bitcoin’s relief rally over? The bulls, however, argue that $60,000 was the likely…
Filed under: News - @ March 7, 2026 4:26 am