Could $70,000 be a Bull Trap?

[Tongley]

The way the market price moved to increased to $70k, I think is a market trap because it will going to increase above that amount to make some investors to be bold to release their bitcoin and other coins, I don't think I will start releasing my bitcoin with this current price because it will not allow me to earn income that will make me celebrate than to endure before the end of this month of August before I can find price that will double my income.

If you hold it for the long term, you can expect to get something better than this. Looking at the current market price, it seems that the Bitcoin market can go up to $90,000 to $110,000 by the end of this year. Since you are thinking short-term, I will tell you that you need to keep the time limit at least until the end of this year. Because we have seen a strong resistance break and maybe from here we can expect to see the Bitcoin price go up until the end of this year. But yes, many traders think that the market has a 50% chance of going up and many think that there is a 50% chance of going down.

[LUCKMCFLY]

however, i do not think this Bitcoin rally has to do with Trump. what exactly did he say? he is just repeating the same old thing, such as the US buying bitcoin, pushing Congress to pass the clarity act, and similar promises he has made many times before. so, i do not think these statements are direct cause of the current price surge.

These were Trump's exact words:

"If crypto is going to define the future, I want it to be mined, minted, and made in the USA... Never sell your Bitcoin. It will be the policy of my administration to keep 100% of all the Bitcoin the U.S. government currently holds or acquires into a Strategic National Bitcoin Reserve."

Source: Bitcoin 2024 Conference (Nashville, TN) / Official Campaign Address

I'm not focused on politics because I consider it very dirty, but we have to acknowledge its impact on the market. Political rhetoric can trigger massive sentiment shifts, especially when it touches macro factors like national reserves.

That said, narrative alone doesn't sustain a rally. Market dynamics ultimately boil down to supply and demand, driven by institutional capital, whales, and retail investors alike. Consistency and discipline are what build true wealth over time. The price holding firm in the $77K–$79K range supported by solid spot buying volume rather than pure leverage shows real strength. Breaking above $80K seems like the logical next step if this volume continues to hold.

[Nanga Parbat]

Everyone is cautious in its statement about current market situation because things are looking not easily predictable suddenly increase like this is looking not realistic but many are enjoying and taking profit because they wait for this time now its already touching $80,000 hopefully this momentum will be stay for sometime while next month is going to be more important.
Peoples those always wants to hold this for long time they are also looking pretty happy this increase give them good boost while its going to stay on this level its still not easily predictable touching this new price after long time have good change in momentum even still anything possible but now coming new low level could be also important on which price is going to be stay because many are now feeling its going to be have six figure end before start of 2027.

[BALIK]

Most people are hoping Bitcoin recovers and keep going up. Very few actually want Bitcoin to fall further, bear market to last longer so they can accumulate more at discounted price. So naturally, many people will not want to hear what you are saying.

But we need to be realistic. The market doesn't move according to what we want. Bitcoin is unpredictable, and its price action is beyond our control. So we shouldn't let our personal expectation affect how we see the market, and we should always have a backup plan.

I wouldn't be surprised if Bitcoin hits a new low if this bullish trend fails to hold.

For now, BTC is very well priced; it hasn't dropped below $77k, which is significant. Remember, it was around $63k-$64k, and many predicted it could reach $70k, but it has exceeded that expectation. So, the market isn't doing badly.

I’d also remind you that Bitcoin hit $83k in May, only to drop to a new low of $57k just a month later. Back then, many people were also saying the market was doing great and that $100k was within reach. It was only two months ago.

Whether the price goes up or down depends heavily on the current geopolitical situation. We saw that this sudden bull run was triggered by Trump's statements, which isn't the first time he's boosted BTC. The best course of action is to monitor the situation and continue with our BTC accumulation plan.

Yeah, financial markets are heavily influenced by geopolitical news, and Bitcoin is no exception. But what exactly did Trump say that makes you think this rally was driven by him? After all the empty promises he's made before, I don't think the market still gives him much weight.

[STT]

70k is not a trap but it could have enough gravity to draw us in and back within that region, presuming the fact the 200 day average is in that area is significant enough to have us orbit around that point.
  If BTC lacks a trend, I think that scenario is fair, it wouldn't even need to be especially negative just neutral would do it.  Some people will always sell out outside of clear easy gains nearby, if there's enough of those sellers on balance we'll get 70k soon enough.

  I would not guess 70k is a target or a trap just now, the BTC price action presently registers above all but 4 weeks of closing bars since February;  we should rate this as pretty bullish bar the fact we trade below the weekly average still.

[fullfitlarry]

For me within the last week or so, it proves that this is not a fake break out. We even reached as high as $80k, meaning there is enough money to push the market. It's hard to see though what is the reason of this massive run since we are still in the bear market.

Nevertheless, correction had happen, but I don't think that we will go lower than what we are before this run which is $65k. So we might just go to $75k'ish again before we see another break out run to $80k next month and this will be our sideways pattern until the next stop at $90k then $100k.

[danherbias07]

For me within the last week or so, it proves that this is not a fake break out. We even reached as high as $80k, meaning there is enough money to push the market. It's hard to see though what is the reason of this massive run since we are still in the bear market.

Nevertheless, correction had happen, but I don't think that we will go lower than what we are before this run which is $65k. So we might just go to $75k'ish again before we see another break out run to $80k next month and this will be our sideways pattern until the next stop at $90k then $100k.

Who decides if we are in a bear market? This is Bitcoin. I don't really believe there's a bull or bear market in it. Its volatility can always surprise us, and right now I believe many thought we would be stagnant at $60k until next year, and yet this happens. $80k. $20k difference. That's a lot of money for a swing per 1 Bitcoin.

Some say it could be a bull trap. Well, if that's the case, then we can take advantage of it. A trader can sell now if he thinks it will drop significantly. But I highly doubt they will. There's always the fear of missing out on what is next to happen, so they will probably relax and just see where this goes.

[Swordsoffreedom]

For me within the last week or so, it proves that this is not a fake break out. We even reached as high as $80k, meaning there is enough money to push the market. It's hard to see though what is the reason of this massive run since we are still in the bear market.

Nevertheless, correction had happen, but I don't think that we will go lower than what we are before this run which is $65k. So we might just go to $75k'ish again before we see another break out run to $80k next month and this will be our sideways pattern until the next stop at $90k then $100k.

As you admitted, we are still in bear market. So I think its bit too early to be confident that Bitcoin won't drop back to $65k again.

Bitcoin hitting $80k and holding around $78k is definitely a good sign. But that's still not enough to convince that bear market is coming to an end and the bottom is in.

Bitcoin could easily retest that level, or even break below it if thing get worse. Don't rule that scenario out just because thing look good right now.

[Adiljutt156]

There is no perfect way to check we ae in bear or bull because bitcoin is always have movement like this but one thing is sure its not trap having $70K is ok but one thing is interesting peoples are not sure about how things are going to be work because few events and announcements are going to be important for having better view of market for future.

Here one thing is good peoples those are having bitcoin for long time they are surely going to be have good chance of checking their places because small profit takers can do better while those are still waiting for increase they are also having keep things in good because any next good movement can give them good result and this will be good now having new lowest baseline is also important hopefully next few days will be give better result.

[dwyane36]

As you admitted, we are still in bear market. So I think its bit too early to be confident that Bitcoin won't drop back to $65k again.

Bitcoin hitting $80k and holding around $78k is definitely a good sign. But that's still not enough to convince that bear market is coming to an end and the bottom is in.

Bitcoin could easily retest that level, or even break below it if thing get worse. Don't rule that scenario out just because thing look good right now.

To be more precise, we’re already nearing the end of the bear market, and it seems to me that as soon as BTC breaks through the resistance level around $ 80-82k with high trading volume and volatility, we’ll definitely be able to say that the bear market has ended. The only question is exactly when that might happen.
Of course, we can’t rule out the possibility that BTC could enter a deeper correction, including a drop to $65k, but personally, I now doubt that it will be a prolonged one.

[Bitcoin_people]

The way the market price moved to increased to $70k, I think is a market trap because it will going to increase above that amount to make some investors to be bold to release their bitcoin and other coins, I don't think I will start releasing my bitcoin with this current price because it will not allow me to earn income that will make me celebrate than to endure before the end of this month of August before I can find price that will double my income.

If you hold it for the long term, you can expect to get something better than this. Looking at the current market price, it seems that the Bitcoin market can go up to $90,000 to $110,000 by the end of this year. Since you are thinking short-term, I will tell you that you need to keep the time limit at least until the end of this year. Because we have seen a strong resistance break and maybe from here we can expect to see the Bitcoin price go up until the end of this year. But yes, many traders think that the market has a 50% chance of going up and many think that there is a 50% chance of going down.

It is certainly possible to make a profit by holding Bitcoin, but it must be done according to a long-term plan. It is very difficult to predict where the price of Bitcoin will be by the end of 2026. However, many are making predictions and through speculation, we have seen in August that the price of Bitcoin has gone above $80k, which gives us a little more confidence. However, if the market continues to move forward slowly, then we can certainly expect the price of Bitcoin to exceed $100k by the end of this year. Most investors are still holding their investments for a longer period and are buying more, thinking that the market may go higher by the end of the year. Since there is a resistance ahead, if the market can break it, then the price of Bitcoin will definitely exceed $90k very quickly. In any case, the investment should be continued from now on and it is very important to hold it, only then it is possible to make a profit if it enters a bull run.

[DiMarxist]

At this juncture, your speculation about this current price been a trap is not out of the equation. Because nothing is impossible with the way that we have seen the market move, there is high probability of the price crashing down suddenly even below $60,000 because one major news can change everything in the market. But at this point let just be hopeful that we don't have a trap as you are trying to put it.

This may just be the start of the bull run , and it is expected that, this current price will be sustained and not be a trap. We have seen Bitcoin move to a very impressive height over a very long time which to me doesn't look like a trap to me. I believe that gradually Bitcoin will be moving up until it gets to a all time high which is exacted after this time of low that, Bitcoin has experience over some Long time now.

[Smack That Ace]

At this juncture, your speculation about this current price been a trap is not out of the equation. Because nothing is impossible with the way that we have seen the market move, there is high probability of the price crashing down suddenly even below $60,000 because one major news can change everything in the market. But at this point let just be hopeful that we don't have a trap as you are trying to put it.

This may just be the start of the bull run , and it is expected that, this current price will be sustained and not be a trap. We have seen Bitcoin move to a very impressive height over a very long time which to me doesn't look like a trap to me. I believe that gradually Bitcoin will be moving up until it gets to a all time high which is exacted after this time of low that, Bitcoin has experience over some Long time now.

A trap doesn't have to reverse right away. It can still pump hard and keep going for quite a while before the price turns around.

Secondly, if we go by market history, bear market isn't over yet, and this could very well just be trap.

And finally, like you said, one major piece of news can send Bitcoin crashing back down. So it'd be pretty rushed to call this the start of bull run based only on the current rally.

IMO, I'd wait for some clearer signs before calling this real bull run.

[Dave1]

A trap doesn't have to reverse right away. It can still pump hard and keep going for quite a while before the price turns around.

Secondly, if we go by market history, bear market isn't over yet, and this could very well just be trap.

And finally, like you said, one major piece of news can send Bitcoin crashing back down. So it'd be pretty rushed to call this the start of bull run based only on the current rally.

IMO, I'd wait for some clearer signs before calling this real bull run.

But in this case, we have seen the reversal already, from as high as $81k at one point down to $77k right now. It might not be as fast, but still, there are already some sellers when we reach that peak in the massive run up until the end of the month.

Yes, I do agree that we are still in the bear market. That's why others might have to say that we are in the bull trap. Nevertheless, if the price didn't go down to where we are before this pump, then possible that we see another consolidation.

[Sticky Bomb]

Bitcoin passed $72000 already & I think Bitcoin is going to make new ATH! past bull run it reached probably $63k then fall back to $30k and then reached at a new all time high of $69k. history can repeat again! My target is $150k on this bull run.

Don’t you think you’re being too hasty with your conclusions?

As much as we all would love to see a new ATH pretty soon, I still have reasons to believe that your speculation is far from being accurate. I’m not saying it’s wrong but I believe you’re speaking totally from sentiment and purely from a speculative perspective.

Like I said, this isn’t a time to draw such conclusions, this is a time to wait and observe the next move of the market, because from what I know, the market can be really unpredictable.

It seems you didn't even get the extent of crap that guy is saying, we're in 2026 and he's referring to 2021ATH as the past bull run and not even 2025 ATH. The last bull run had an ATH of $126k and not $69k.

Anyways, I don't think we're getting close to a new ATH before the halving. A new ATH should probably be achieved in let's say 2029, but I could be wrong though . Bitcoin is revolving between 77k to 79k for a while now, I think it's creating some sort of resistance there.

[YOSHIE]

The question is: are we truly up for the $70,000 market zone, or is this just a freaking fake-out performance, deceptively?

In fact, Bitcoin movement cycle has occurred repeatedly, this experience has been repeated many times, before the Bitcoin halving occurred, if you say the situation like now is an internal trap for investors, if I speculate it makes sense.

My speculation is that even though the price of Bitcoin has now reached the level of $78k, psychologically, if you look at the crypto market, there are still indications of uncertainty about moving even higher, such as the influence of interest rates, micro and so on.

For this reason, we understand that the current Bitcoin price could be a bull trap or support, but I believe that if there is no strong impetus from real accumulation or other things such as long-term institutions, it may be difficult for the Bitcoin price to reach the highest level.

[OgNasty]

Everybody ready to do the Bartman? That was a dance at one point, now it is a different sort of dance. STRC headed downward is not a great sign. Saylor bought the top of this head fake instead of selling to bring STRC back to par when it was profitable. I assume when he is back in the red he will sell more BTC. At least that is what I would expect from someone using AI to guide their decisions, so count on it.

[Franklyn-wood]

At this juncture, your speculation about this current price been a trap is not out of the equation. Because nothing is impossible with the way that we have seen the market move, there is high probability of the price crashing down suddenly even below $60,000 because one major news can change everything in the market. But at this point let just be hopeful that we don't have a trap as you are trying to put it.

This may just be the start of the bull run , and it is expected that, this current price will be sustained and not be a trap. We have seen Bitcoin move to a very impressive height over a very long time which to me doesn't look like a trap to me. I believe that gradually Bitcoin will be moving up until it gets to a all time high which is exacted after this time of low that, Bitcoin has experience over some Long time now.

I think this is not about high probability of the price of Bitcoin falling, we are in the bear market and there is no way the price of Bitcoin is not going to fall. Bitcoin can reach any limit in price but that does not mean that the price of Bitcoin is not going to fall. The price of Bitcoin is going to appreciate more because there are people that have seen the price of Bitcoin pumping and they are trying to take the advantage of the market to pump it. Bull trap is going to make some people to lose money from their investments. Some are still buying Bitcoin and it should not be seen as a good time to accumulate Bitcoin at this point.

[icebar]

It is not possible to predict when Bitcoin's bull run will start. However, the recent Bitcoin price has crossed $70k, which is a positive sign, but it cannot be said that Bitcoin will be bullish. The current performance is definitely different from previous years, especially the increase in Bitcoin prices in August was not seen in the past few years. The market has gained much more strength than before. That is why I definitely expect the market to go up further during this time. New investments are increasing in the US ETF market, which will definitely increase demand, as a result of which the market will now go to a much stronger level than before. Currently, the market is stable between $78k and it has crossed the highest 80k in the last few days. I am still not free from worries considering the market condition. The market can move in any direction from this point.

[Umulala-alala]

Could it be that this is a bullrun market trap? Are we still going to experience a sudden fall at any time that could dip down to $65,000 and further plummet below $60,000 with time, I know that the market could be unpredictable in some certain situations, whereby you discover that a sudden event of breaking news caused the market to react, possibly some whales could also be performing some market manipulations, this is just my personal assumption anyway.

Anything can happen. I don't think the sudden increase in price is a trap. Until now, people were complaining about the volatility of Bitcoin being boring; at least this increase is to prove that Bitcoin has not changed from what people are thinking about. It still remains the same, and it is also unpredictable. For those who are buying to hodl, even if the price of Bitcoin falls, it won't change anything because it is expected for anything to happen. But as for those who are interested in buying Bitcoin when the market is showing a bull sign, if it drops, it can be seen as a trap for them. Buy with a clear mind, and let the target be to hodl; whatever happens in the markets will be an opportunity.

Bitcoin is just doing what it is known for, the price has been dip for some months now and some persons were complaining about the price been low for a long time now the price of bitcoin has come up and people are asking if it's a trap? The increase is a sign that bitcoin hasn't changed and it can't be like other crypto coin that will go down and drop to 0 with out increasing back. Bitcoin new all time high (ATH) will come it could be this year or next year so people should think of stacking more BTC and hodl now that the price hasn't increase much so they can be at profit when the price of BTC reaches a new all time high.