Bitcoin Market Split: Will Bears Push BTC Back to $70K or Will Bulls Rally to $150K?

The Bitcoin community is sharply divided on near-term price direction, with projections ranging from $70,000 lows to $150,000 highs. The world’s leading cryptocurrency has been trapped in a compressed $5,000 trading band for eight consecutive days, creating mounting pressure for a decisive breakout. Market watchers are bracing for significant volatility, particularly as the weekly close approaches.

The Bear Case: Correction Risks and Support Zones Under Pressure

A contingent of analysts believes downward pressure may intensify, with Bitcoin potentially testing support around $70,000—a level untouched for over a year. CryptoQuant’s research points to elevated risk of a corrective pullback, warning that demand zones between $70,000 and $72,000 may act as magnets for sellers rather than buyers.

The technical setup raises concerns: funding inflows into major platforms could amplify selling momentum, driving prices lower. These analysts emphasize that while optimism dominates headlines, the underlying market structure exhibits fragility. The consolidation period itself—the eight-day ranging action—often precedes sharp reversals, and historical precedent suggests the next major move could be downward.

The Bull Narrative: Breakout Setup and Fresh Highs on the Horizon

Conversely, bullish traders see a compelling setup for an explosive rally. Analyst Ted Pillows identifies parallels with historical bearish divergences in Bitcoin’s Relative Strength Index (RSI), drawing comparisons to patterns observed during the 2021 bull market phase. His analysis suggests a relief bounce could propel BTC toward $98,000-$100,000 as an intermediate target, with the 100-week exponential moving average approaching a critical inflection point that has historically triggered powerful upside moves.

Captain Faibik anticipates the breakout will unleash FOMO-driven buying pressure, sparking a wave of accumulation. More aggressively, Korinek_Trades applies Elliott Wave theory to project Bitcoin completing a five-wave structure that could ultimately reach $150,000—marking fresh all-time highs.

Current State and What Traders Should Watch

Bitcoin hovers around $88,000, having appreciated 1.40% over the past 24 hours, according to latest market data. The $5,000 trading range reflects genuine uncertainty rather than a resolution. Technical indicators remain mixed: while some metrics signal exhaustion and potential reversal, others suggest the consolidation is merely a pause before continuation higher.

The standoff between bulls and bears hinges on which scenario materializes first—either the breakout ignites upside momentum toward $150,000, or consolidation finally breaks downward, testing $70,000 support. Traders positioning for either outcome should monitor volume patterns and inflows closely, as these will likely dictate which side gains the upper hand in the coming days.