BTC surges 10.5%: The bears are still bearish, but the market has already started “typing a reply”!

If people were still asking “When will Bitcoin move?” a few days ago, BTC has now answered in the simplest and most direct way possible: “No need to ask—I’ll move on my own.”

The latest market data shows that Bitcoin has broken back above $71k, briefly climbing to around $72k during this rally. Related reports show that BTC has gained nearly 11% over the past 24 hours, while the crypto market’s total market capitalization has increased by approximately $190 billion in a short period.

What is most likely to happen in a market like this? Three types of people suddenly appear on social media.

The first: “I told you it would go up.”

The second: “Why didn’t I buy below $70k?”

The third: “Will it fall again?”

Usually, the first person said nothing before the rally, the second did not buy after the rally began, and the third is preparing to chase at the top.

So when facing a market like this, what is truly worth studying is not “how much further it can rise,” but why the rally has suddenly regained market consensus.

For now, policy expectations are one of the key catalysts. U.S. President Trump has recently once again pushed Congress to advance legislation related to the crypto market. Expectations surrounding the CLARITY Act have heated up, improving investors’ risk appetite. Meanwhile, the U.S. Treasury’s expansion of long-term Treasury buybacks has also driven bond yields lower, providing some sentiment support for risk assets.

From a technical perspective, $70k is now extremely important. It was previously a psychological resistance level, but after the breakout, if the price can hold above it for several consecutive trading sessions, the market may redefine it as support.

But the biggest short-term risk lies precisely here: the price has risen too quickly.

Bespoke Investment even pointed out that BTC is currently clearly overbought, so chasing the rally in the short term requires extra caution.

My view is that the trend has turned bullish again, but that does not mean every bullish candle is worth chasing.

In terms of strategy, I would prefer to watch how much support appears on a pullback toward $70k. If it holds, I would remain bullish; if the price quickly falls back below $70k after surging higher, beware of a false breakout.

As for $75k? Of course, it is worth considering, but don’t open the champagne too early.

After all, the biggest feature of the crypto market is this: yesterday it made you despair, today it makes you excited, and tomorrow it can make you relearn what risk management means.#BTC突破71000美元日内涨幅10.5%