Bitcoin's game at the $70000 mark: callback or opportunity? Today, the price of Bitcoin fluctuated around $70000, and has since rebounded more than 43% from its historical high of $126000 set in October last year. The deep adjustment that began with the "10/10" liquidation event has made many investors doubt whether the bull market has ended. But if we extend our perspective, we will find that this callback is not an isolated event. Bitcoin experienced a deep correction of nearly 15% in February, and since March, the market has shown significant recovery, with prices rebounding from a low of $64000 to the current $70000 range, showing signs of stabilization on a technical level. At the macro level, the US encryption policy is undergoing a historic shift. The stablecoin legislation promoted by the Trump administration has been passed, and the market structure bill is also being pushed forward in the Senate. White House crypto advisor David Sacks has made it clear that 2026 will be a crucial year for crypto policy. This kind of regulatory clarity is a significant positive for the industry in the long run. However, geopolitical and macroeconomic uncertainties continue to suppress risk assets. The global economy is transitioning from a multilateral system to a unilateral system, and the traditional financial system is being restructured by AI and digital currencies. In this context, Bitcoin is facing both the pressure of safe haven capital outflows and the narrative expectation of "digital gold". From the data on the chain, it can be seen that the current price range is forming new chip deposits. Historical experience tells us that a deep pullback in a bull market is often the best opportunity to get on board. The range of $65000 to $70000 may be the second entry window given by the market. Of course, short-term fluctuations will continue. But for long-term holders, the question now is not whether the bull market is over, but whether you still have bullets. After all, the story from 50000 to 120000 has already been told once, who says there won't be a second time? Bitcoin BTC Cryptocurrency