Crypto: Was $74k A Bull Trap? Bitcoin Traders Diverge On 2022 Crash Repeating
Bitcoin’s rebound to $74,000 sparked disagreement among traders as opinions diverged on whether the BTC price bottom is behind us.
Bitcoin (BTC) traded 4.5% below the $74,000 high reached on Thursday, with traders conflicted over whether this level may have marked the local top for BTC price.
Bitcoin charts still show similarities to the 2022 bear cycle, suggesting another leg down below $60,000 is possible.
Others say the bottom is in and expect a breakout rally to $75,000–$80,000 to be next.
BTC’s current technical structure, following the latest recovery from $60,000, shows similarities with the middle of past bear cycles.
Bitcoin’s latest rise to $74,000 came 149 days after its bull market peak of $126,000 in October 2025.
Related: Bitcoin 'anomalous' outflow sees 32K BTC leave exchanges in a single day
“$BTC made a local high around 140–150 days after its all-time high in the previous two cycles before pushing lower,” said analyst Bitcoin Hyper in an X post on Thursday.
Echoing this view, pseudonymous trader Bitcoin Isaiah called the rally to $74,000 a "perfect local top indicator," pointing to premature celebrations by the bulls as a signal for further dumping.
The analyst referred to the 2022 cycle, when similar euphoria preceded a 68% crash from $48,200 to $15,500, suggesting that history could repeat with a revisit to sub-$60,000 levels.
