Currently, the BTC market has already begun to show clear divergence.

On one side are retail investors continuously chasing highs with each rebound.
On the other side are large funds maintaining restraint over longer timeframes.
This is also why many people misjudge the current structure,
thinking it is a one-sided upward trend.
In fact, it more resembles a oscillating range with repeated pulls.
From a macro rhythm perspective,
the market has not yet broken out into a true trending phase.
It is more about re-pricing for the next stage.
The key zones are gradually becoming clearer.
If a deeper retracement occurs later,
there is a high probability of retesting the liquidity zone around 60,000–65,000.