bitcoin:native This pullback to 64,000 isn’t just a technical test—it’s also part of the global repricing of risk assets. The 4H chart still shows higher lows, but after being rejected at 67,000, the highs are starting to trend lower. 64,000 is the confluence point of the trendline and the previous platform. Holding this level only proves the structure isn’t broken, but it doesn’t confirm a new upward trend. The real pressure comes from external factors: QQQ has pulled back nearly 3% in two days, the Fed is keeping rates unchanged, and the market currently lacks clear signals of liquidity easing. High interest rates, wavering growth expectations, and U.S. equities de-risking make it hard for BTC to rally independently. Open interest in derivatives is declining alongside the price, and funding rates are near neutral. This suggests the current drop is mainly driven by long liquidations rather than extreme short squeezes, so it’s not ideal to chase shorts at support levels. Reclaiming 65,000 opens the door to 67,000. Breaking below 63,600 and failing to bounce would turn the structure bearish, with a target around 62,000. My take: 64,000 is worth watching but not worth blind faith. The real bullish signal isn’t just a trendline bounce—it’s BTC reclaiming 65,000 while the Nasdaq stops signaling risk-off. #Bitcoin #Crypto $BTC