[DigitalToday reporter Yoonseo Lee] Bitcoin has rebounded to the $75,000 level ahead of the flagship “Bitcoin Conference” to be held in Las Vegas next week, but past rallies did not appear to last long after the event.

According to blockchain media outlet CoinDesk on April 20 (local time), the market is watching whether this event also leads to a “sell the news” pattern.

Bitcoin rebounded from a low of around $60,000 in early February and is now trading at around $75,000. Still, it is in a recovery phase after falling more than 50 percent from the all-time high recorded in October last year. In this situation, market participants are watching whether expectation-driven buying ahead of a major event and profit-taking after it ends will reappear.

According to data compiled by Galaxy Research and Investing.com from 2019 to 2025, bitcoin tended to show strength ahead of the conference, turn mixed during the event and then move into a sharply weaker trend afterward. Interest and positioning concentrated just before the event, but during the conference the anticipated narrative failed to push prices higher. The most pronounced weakness appeared from a few days to several weeks after the event ended.

In the 24 hours before the 2024 Nashville event, bitcoin rose about 3 percent. It gained about 10 percent ahead of the 2019 San Francisco event. After the events, however, the upward momentum did not continue. Similar weakness followed in 2019, 2021 and 2023, and the momentum built ahead of the conferences did not hold.

The period the market is comparing now is the 2022 bear market. During the Miami conference that year, bitcoin fell about 1 percent, but it slid nearly 30 percent over the following weeks. Many analysts are watching whether the same pattern repeats this time as well.

The 2024 case was similar. Donald Trump attended the Nashville event and laid out a plan to make the United States a “bitcoin superpower,” but the gains during the conference did not last long. The rebound remained a local peak, and bitcoin later fell to $49,000 in August amid the fallout from yen carry trade unwinding.

This pattern is linked to how major conferences coincide with peaks in attention and liquidity. As optimism builds into the event, prices rise first, and after the event conditions emerge for investors to reduce holdings. The market’s main focus is whether this year’s “Bitcoin Vegas” again becomes a trigger for profit-taking.

At the same time, market sentiment remains fragile. Bitcoin is recovering from a deep drawdown, but based on past data alone it is hard to say that pre-event rebounds led directly to a trend reversal. As a result, at this “Bitcoin Vegas,” a key point to watch is not the conference message itself but whether bitcoin holds on to its gains immediately after the event.