Analyst: Bitcoin's return to $73,000 may mark the beginning of the "escape velocity" phase

ChainCatcher news, cryptocurrency analyst James Check stated in the market report on May 21 that BTC could rebound to $73,000, which may mark the asset beginning to accelerate to "escape velocity."

Check stated: "While the transition from enthusiasm to euphoria can happen quickly, it feels like we have not yet reached the euphoric escape velocity. This price level is also where STH (wallets holding Bitcoin for less than 155 days) are now 'well in profit,' which could lead to sell-offs and create some resistance."

Additionally, several other cryptocurrency analysts also believe that the market's excitement has not yet materialized.

It is reported that "escape velocity" is a term used in astrophysics to describe the minimum speed required for an object to break free from the gravitational field of a celestial body (such as a planet or moon) without further propulsion. James Check uses this term to describe what might happen next with Bitcoin.