Bitcoin (BTC) has faced yet another rejection at the $64,000 level. The asset’s price has fallen 1.7% in the last 24 hours and 3.7% in the last month, according to CoinGecko. Let’s discuss why Bitcoin (BTC) is stuck in a bear market, and how it could reach $70k.
Why Is The Cryptocurrency Market Stuck?
Bitcoin (BTC) climbed to an all-time high of $126,080 in October 2025. The asset’s price has fallen by nearly 50% since its peak. BTC’s descent was triggered by an exodus of investors from the cryptocurrency market after increased macroeconomic worries and global geopolitical tensions. The US-Iran conflict led to further movement of capital away from high-risk assets.
Secondly, Bitcoin (BTC) tends to follow a four-year pattern. The asset has hit new all-time highs in 2017, 2021, and 2025. Going by that pattern, BTC could climb to a new peak in 2029. The current bear market is part of BTC’s price pattern.
How Can Bitcoin Reach $70k Again?
There are several factors that need to happen for Bitcoin (BTC) to reclaim the $70k price level. Inflation and macroeconomic factors are the first thing that would pull retail investors back in the market. Inflation may have gone down in June 2026, but the Federal Reserve is yet to announce an interest rate cut. A dip in interest rates could lead to investors taking on more risks. Bitcoin (BTC) could benefit under such circumstances.
Also Read: BlackRock CEO Remains Bullish On Bitcoin, Bullish 12 Months
The US may be on the brink of passing the CLARITY Act. The legislation aims to bring more regulatory clarity for the cryptocurrency sector and better investor protection. The passing of the law could lead to a surge in investor confidence, which could lead to more inflows. Bitcoin (BTC) could reclaim the $70k price if investor confidence is high.