Prominent cryptocurrency analyst and Bitget CEO Gracy Chen cautioned Monday that Bitcoin’s (CRYPTO: BTC) rebound to $74,000 should not be interpreted as the end of the bear market.

‘Not The Time To Go All-In’

Sharing her views in an X post, Chen said the ongoing bear market is not over as liquidity has not fully recovered.

“I've said time and again that the $60,000–$70,000 range is a good zone for dollar-cost averaging. But not necessarily the time to go ALL-IN,” Chen stated.

Chen aims to go all-in on Bitcoin at $50,000, where she hopes to buy the full amount of BTC she wants for this cycle.

Chen said it was okay to buy some BTC now, but advised traders not to panic if the price drops 20-30% after buying. She emphasized the importance of “doing your own research,” or DYOR.

Not A Big Deal, Says Woo

Willy Woo, another widely followed cryptocurrency commentator, meanwhile, cautioned against overinterpreting Bitcoin’s recent surge alongside oil’s pullback.

They attributed oil’s decline to a mean reversion from overbought levels, while Bitcoin’s surge reflected a rebound from short-term oversold conditions.

“Don't read into it too much,” Woo added.

Crypto’s Relief Rally

The discussions followed Sunday’s overnight spike that sent Bitcoin beyond $74,000—its first time in nearly six weeks.

Roughly $126 million was liquidated from the Bitcoin derivatives market over the past 24 hours, with short positions worth $108 million wiped out, according to Coinglass data. Open interest in Bitcoin futures jumped 6.27% in the last 24 hours.

Price Action: At the time of writing, BTC was exchanging hands at $73,459.67, up 2.82% in the last 24 hours, according to data from Benzinga Pro.

Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

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