Recently, due to optimistic sentiment from the US-Iran peace negotiations, Bitcoin rebounded to around $65k, but currently shows signs of weakness, characterized by declining trading volume and increased selling pressure from miners in loss. On-chain data indicates that miners and holders are still facing significant losses, and Bitcoin's price trend remains bearish. If it breaks below the $64k support level, it could further decline to below $59.1k. This suggests that Bitcoin has not yet entered an extreme bear market phase, but may still face further downward pressure.