The Bitcoin (BTC) price has breached the coveted $70,000 mark amid a notable surge in BTC spot buying and Bitcoin exchange-traded fund (ETF) buying, with the cryptocurrency community pondering whether the bull market is just beginning or nearing its peak.

The ELI5 of TLDR analyst suggested that most online indicators are pointing to a nascent bull market, despite some showing topping patterns. The recent bounce from support near $60,000 has sparked increased interest, with Farside Investors reporting inflows of about $950 million last week, a figure not seen since March.