$BTC closed May around $73,568, and the market is still split almost perfectly in half. Some traders believe the February move toward $60K was the cycle bottom. Others think the bear structure has not fully completed yet. My view? The data still does not look like a clean bottom formation. A real bottom usually shows stronger exhaustion, clearer capitulation, and a healthier recovery structure. Right now, $BTC still looks vulnerable. If price loses momentum again, the key downside zones remain: $61K — around the 200-week moving average $53K — near realized price territory That does not mean Bitcoin must go there. But it does mean the probability of another downside sweep is still too high to ignore. For now, this market is not screaming “bottom is in.” It is saying: “Be careful. The confirmation is not here yet.”