Despite market volatility, Bitcoin (BTC) has shown remarkable resilience, increasing by 0.29% in the past 24 hours to $69,485.93. This upward trend is a welcome relief for the cryptocurrency ecosystem, which has been recovering slowly.

Bitcoin's price has been hovering above the critical support level of $68,020, indicating a strong foundation for further growth. Analysts predict a significant rise, with $70,000 as the first major resistance point. If Bitcoin surpasses this level, it may reach new heights, potentially exceeding its all-time high of $73,750.07.

The $71,000 level is a crucial turning point, and if Bitcoin can overcome the bear pressure here, it may encounter minimal resistance to achieving a new record high. Despite recent price fluctuations, the profitability of BTC addresses remains high at 94.9%, indicating low selling pressure from long-term holders. This, combined with a slight oversold condition, may signal a trend change.

Industry experts attribute Bitcoin's strength to spot Bitcoin ETF products acquiring more BTC holdings than expected, creating a supply shortage and a favorable environment for price recovery. Some predict Bitcoin will reach $700,000 in the long term, while others foresee a price of $100,000 by the end of the year.

In conclusion, Bitcoin's price is poised for a significant rise, defying market bears and eyeing the critical $70,000 resistance level. With strong fundamentals and industry expert predictions, Bitcoin may be on the cusp of a remarkable upward trend.