[CryptoQuant Analyst: BTC's Recent Surge Driven by Futures, May Retrace to Starting Zone] According to a report by CryptoQuant analyst oro_crypto on April 12, Bitcoin has confirmed a bearish breakout. The recent rebound (66K → 72K) was entirely driven by leveraged funds in the futures market, lacking support from spot buying. The market has officially entered a bearish/retracement phase, with prices highly likely to pull back to the starting zone of this rally (66K–68K USD). If this range is breached, it may further test the strong support at 60K–63K USD, potentially triggering a chain liquidation.