Woofun AI notes that Bitcoin has rebounded to $63,000, marking the completion of the initial price recovery phase. The market now faces a critical test regarding buyer persistence following the squeeze. Sustained ETF inflows beyond one or two sessions and improved spot volume independent of futures leverage are necessary conditions for validation. Buyers must also defend the $61,000 to $62,000 range in the event of a retracement. If these signals hold, the July rebound may indicate the formation of a new base; otherwise, the move toward resistance could be interpreted as macro relief and short-covering rather than durable demand.