Bitcoin market commentators are divided on the stability of the recent BTC price rebound. Following a local high of $112,646, traders discussed critical price levels impacting potential bullish momentum. Popular trader BitBull noted that Bitcoin reclaimed its EMA-100 level at $110,850, suggesting that if this level holds, a rally towards $116K-$117K is possible. Conversely, trader Roman expressed a bearish outlook, indicating that a breakdown below $112,000 could lead to a downturn towards $102,000. Rekt Capital compared the current price pullback to previous bull markets, suggesting recent history often rhymes, implying the pullback might be shorter and shallower. The debate continues regarding the duration of the bull market, with Rekt Capital asserting that historical trends demand a deadline around October for bullish continuation. In contrast, Bitcoin advisor David Bailey believes a bear market is years away, attributing this to the institutionalization of Bitcoin as an asset.

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