Bullish case for continuation: Institutional absorption via ETFs, miner profitability still solid above much lower levels, and reduced "floating supply" from prior cycles (halving effects + holders locking in) make deep corrections harder. Some analysts see this as accumulation before expansion, with targets like $110k–$120k floated if momentum builds (e.g., on macro easing or catalysts). Historical patterns show touches near longer-term averages often precede rallies.
Bearish/counter risks: Momentum indicators are diverging in places, and the market remains in a corrective structure from prior highs (some mention peaks around $90k+ earlier). If $70k fails decisively (e.g., multi-week close below + heavy ETF outflows), deeper pullbacks toward $60k or even $50k–$58k aren't ruled out in some forecasts. Geopolitical noise and macro headwinds have contributed to choppiness.