Bitcoin is experiencing structural risks despite being in the early stages of a bull market, as mid-term market dynamics show signs of disruption. The cryptocurrency's spot price stands at $73,222.39, up 3.35%, but recent data indicates weakening momentum and a potential breach of the $64,000 support level, which could accelerate downward pressure. Key indicators reveal a net inflow of 5,318 BTC into exchanges, suggesting emerging sell pressure. The MVRV ratio has adjusted to 1.31, down 3.25%, indicating a valuation correction within the bull market range. The funding rate remains stable at 0.08% annually, showing no signs of overheating. Analysts highlight the importance of the $64,000 support level, with a significant resistance at $84,000, as the market navigates potential mid-term adjustments within a long-term bullish trend.