PANews reported on April 24th that BIT published an analysis stating that in the past two Bit on Target reports, the agency had indicated that the Bitcoin bear market might be nearing its end. Signals across multiple timeframes are gradually converging, supporting this assessment. Their Bitcoin trend model has now turned bullish. While trend signals don't always materialize, given Bitcoin's inherent strong trends and high volatility, and considering the two previous rapid reversals, the current upward trend has more potential for continuation. Furthermore, the Bitcoin price is gradually approaching the 21-week moving average, a key dividing line in their bull/bear market analysis framework.

The $73,000 level has been a significant watershed since March 2024 and a key threshold for confirming a reversal in this trend. Bitcoin has recently been consolidating around $70,000. A sustained break and hold above $73,000 would further confirm the reversal signal. While current indicators are generally positive, the upward momentum may still be affected by short-term risk factors before the price reaches the target range, requiring close monitoring.