Regarding the recent movement around $65k, some market views consider this more as a technical rebound rather than a trend reversal, mainly based on observations from the following two dimensions:

First, from the liquidity perspective, although there was a brief net inflow of about $270 million in the spot market on June 7, the funds quickly shifted to a net outflow afterward. This lack of sustained buying indicates that the current market's willingness to absorb is not strong, and after a short test, funds choose to exit, increasing the probability that prices will continue to face downward pressure.
Second, from the volume-price structure, the market has previously effectively broken below the previous dense trading zone of $65k to $72k. After breaking below this zone, it has turned into a strong resistance area, and without significant new capital entering the market, it will be difficult for prices to break above this zone again.
Overall, given that the liquidity has not shown sustained inflows and the resistance above remains heavy, the market is likely to face further correction after a short-term rebound.