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Bitcoin pulling back near $65,000 doesn’t automatically signal a bear market. This video explains how pullbacks often emerge from liquidity thinning, leverage resets, and profit-taking after strong advances. In crypto markets, sharp retracements can coexist with intact higher-timeframe trends. What matters now is structure, not price alone. Funding rates, spot versus derivatives behavior, and volume tell whether the move is a healthy reset or the start of a deeper regime shift. If leverage unwinds while spot demand holds, setups improve. If liquidity drains and spot selling accelerates, risk increases. This video breaks down which indicators separate a bearish turn from a continuation setup, what to watch in flows and positioning, and how Bitcoin typically behaves after first major pullbacks in trend phases. #Bitcoin #CryptoMarkets #MarketStructure #Liquidity #Volatility #DigitalAssets #MacroFinance #FinanceExplained Disclaimer: This content is for educational and informational purposes only and does not constitute financial or investment advice. Always do your own research or consult a qualified professional.