Foreign sources cited multiple analysts as saying that bitcoin was again approaching a high point of the previous cycle of $69,000. The market focus is not only on the price itself, but also on the signal significance of this position in the cycle. Historically, repositioning before collapse is often seen as a precursor to a new upswing.

Before history comes to focus.

It was mentioned that according to the analyst Ali Martinez, bitcoin had only a few long run times in its history at the bottom of the previous historical highs, and that those stages had subsequently corresponded to a stronger rebound window.

In the 2015 cycle, Bitcoin fell at one point from its previous high point of about US$ 259 and then accumulated an increase of over 750 per cent in the next round of cattle. A similar situation occurred at the end of 2022, when Bitcoin fell at a high point of about $19.66 million in the 2017 cycle and then rose to $12.698 million in October 2025, an increase of over 550 per cent.

According to Martinez, if Bitcoin could recover and hold back $69,000, it might mean that the market was moving away from the bear city to a new, long-term upward trend.

The chain buys in the immediate vicinity.

The chain data also show that there is a more visible buyout close to the current price. According to Glassnode data, a large number of the holders are concentrated in the current phase, which provides some support for the location.

However, Glassnode also reminds us that a number of recent purchases have been made in the back of the previous round. If Bitcoin is unable to break through by $66,000, this part of the new inflows could turn to profit, thus increasing short-term fallback pressure.

Long-cycle judgment is still cautious.

Another analyst, Rekt Capital, observed the market from a longer cycle. In his view, bitcoin still largely follows the traditional four-year cycle. In this judgement, 2025 corresponds to the height of the current round of cattle, while the market performance in 2026 is closer to the bear market year.

As at the time of the release of the report, Bitcoin had posted an estimated $64.46 million. Next, the market will continue to observe whether it can re-establish its position of $69,000 and whether the resistance position around $66,000 can be effectively breached.