BTC Position at the 2024 Peak: It's Time for Long-Term Investors to Prepare for the Next Move

Bitcoin’s current price is at the same level as the peak reached in 2024, creating a significant momentum for traders and investors who are preparing to make strategic decisions. With the latest price reaching $68.98K, the market is entering a critical phase where even small movements can have a substantial impact on the medium-term trajectory.

Analysts like CyrilXBT emphasize that the current market conditions require close attention to strategic technical levels. Those preparing to enter positions or maintain exposure must understand the importance of the $70K–$75K zone as a barometer of trend health.

Why the $70K–$75K Level Is an Important Testing Point

This price range is not just an ordinary number in Bitcoin’s history. It has served as a strong rejection zone and a pivot point that will determine market sentiment over the coming months. According to technical analysis, if the weekly close manages to stay above this level, it will confirm that the market is in a positive consolidation phase, with each low forming higher than the previous one—a classic pattern of a sustained uptrend.

Two Scenarios to Watch During the Preparation Phase

Investors preparing to adjust their strategies should consider two different potential movements. First, if support in this zone holds at the weekly close, it will indicate that a higher floor has been established, signaling optimism for the next rally. Conversely, if this level is broken downward, market participants should anticipate increased sell pressure, which could release additional liquidity to test even lower support areas.