Is $68,483 Bitcoin's "Revival Pill" or just a warm-up?

Bitcoin surged back to $68,483, and the atmosphere in the group chat instantly shifted from "liquidate to save oneself" to "bull market return." The candlestick chart straightened out, and even the memes looked sunny. The question is, is this rebound a return of the king, or just a push-up in a bear market?
Let's start with the sentiment. As long as the price reclaims key round numbers, market risk appetite will significantly improve. Especially after a previous correction has shaken out the floating supply, with a relatively healthy chip structure and some volume support, it’s easy to form a "bullish stampede" type of short covering. Short sellers take profits, longs chase prices, and naturally, the price keeps climbing.
But don’t forget, Bitcoin’s rebound is never just a technical issue. It’s driven by liquidity, macro trends, and derivatives leverage games. If funds are only engaged in short-term arbitrage, then $68,483 acts more like a "magnet," attracting buy-the-dip traders, then digesting the move through consolidation.
What’s truly worth observing are two points: first, whether the trading volume increases in tandem; second, whether the pullback stabilizes. If the rally is supported by volume and the correction doesn’t break key levels, the trend structure will become more and more solid; if the rally tapers off in volume and the pullback breaks support, then beware of a "quick rise and fall" scenario.
The market always swings between two voices: one shouting "see you at 100,000," and the other saying "fake breakout." The smart approach isn’t to pick a side but to leave room for flexibility. Don’t believe everything when it rises, and don’t dismiss everything when it falls.
$68,483 isn’t the end, nor is it the beginning; it’s just a number representing a temporary consensus between sentiment and funds. The true direction isn’t in the group chat, but in the market’s response during the next pullback.