Bitcoin broke above $71,000 this week, breaking out of a tight trading range it had been in for weeks. The main catalyst for this was strong demand through ETFs, with total inflows of about $1.2 billion over the past week.

Despite concerns about Bitcoin returning to consolidation, the report also highlights emerging signs that the next major rally could be coming sooner than expected.

Popular cryptocurrency analyst Ali Martinez suggests very "minimal resistance" in the price range of $70,180 to $70,600. If Bitcoin manages to break through this zone, the path to growth will become less resistive.