1H BTCUSDT.PBitcoin / TetherUS PERPETUAL CONTRACTBINANCE:BTCUSDT.PTRW300Market structure: The 1H structure remains bearish, with price continuing to make lower highs and lower lows. The recent consolidation around 64.2K–64.4K appears to have been a correction rather than a confirmed reversal. Momentum: Bearish momentum is still present, but the downside legs are becoming smaller. This suggests some loss of selling momentum, although sellers still control the structure. EMA bands: The 12/21 EMA bands remain red and the 50 EMA is bearish, keeping the higher-timeframe bias bearish. Order blocks: The new 1H bearish OB is the key resistance to watch on a retracement. Below, the 1H bullish OB around 62.27K–62.62K is the major potential support zone. Volume: The latest move down occurred with relatively weak volume, suggesting the latest bearish push did not have strong participation behind it. CVD: Spot CVD remains bearish at approximately -3.386K, showing aggressive spot selling is still dominant. Futures CVD has also weakened and returned toward its previous range. Positioning: Long/Short Accounts Ratio is around 1.181, meaning there are slightly more long accounts than short accounts. Long positioning is increasing, but it is not enough by itself to confirm a reversal.