Despite a brief dip to $61,500 attributed to Coinbase's operational issues, analysts remain optimistic about Bitcoin's (CRYPTO:BTC) future.

Predictions suggest a potential rally above $70,000, with one analyst setting a midterm target of $78,000.

Positive market indicators, including the MVRV ratio and exchange netflow, indicate reduced selling pressure and signal a forthcoming price increase.

Analysts point to factors like the post-halving period and the Risk-Adjusted Return Oscillator indicator to support their bullish outlook on Bitcoin's trajectory.