In late trading on March 25, BTC prices surged back to reclaim $71,000.

Following one of the largest accumulation days in years, which saw Bitcoin regaining the $71,000 price level, it's speculated that Bitcoin's pre-halving retracement might have concluded.

On March 25, blockchain analytics firm Santiment reported that Bitcoin surprised traders with a rebound, driven by significant accumulation by key stakeholders over the weekend.

Wallets categorized as ‘sharks’ and ‘whales’, holding between 10 and 10,000 coins, accumulated 51,959 BTC on March 24, valued at around $3.4 billion at the time, representing 0.263% of the entire currently available supply in a single day.

With the Bitcoin halving approaching in about three weeks on or around April 19, analysts anticipate continued growth in these wallets, potentially leading to a positive impact on crypto-wide market caps.

Despite concerns among crypto analysts about a substantial pre-halving retracement mirroring previous market cycles, BTC only experienced a 17% dip from its March 14 all-time high of $73,738, reaching $61,494 on March 20, according to CoinGecko.

Technical analyst ‘Rekt Capital’ observed that if this proves to be the conclusion of the pre-halving retracement, Bitcoin's performance nearly matches the 2020 pre-halving retracement.

In comparison, BTC retraced just over -19% in 2020, while in this cycle, it pulled back by approximately -18%.

Earlier predictions suggested that this pre-halving retracement would likely be shallower and shorter than historical trends.

Regarding market volatility and the previous week's dip, crypto research firm Kaiko highlighted increased selling activity following the U.S. market close, attributing the volatility to fragmented liquidity across exchanges and trading pairs.

As of the time of writing, BTC was trading up 5.2% at $70,252, having reached an intraday high of $71,000 in late trading on March 25.