Bitcoin (CRYPTO: BTC) is back at $70,000 on Friday, signalling a significant test for its next move. The move follows a period of volatility across the market, with rising geopolitical tensions and the aftermath of recent Federal Reserve policy decisions contributing to this. Analysts have identified $71,500 as the key level to watch. However, failure to hold support could trigger a bearish swing failure pattern and potentially a deeper correction. The analyst suggested that while many altcoins from previous cycles are unlikely to revisit their all-time highs, capital tends to rotate towards stronger narratives and newer assets.