The recent deep pullback in Bitcoin may be attributed to other factors, including the easing of geopolitical tensions between Lebanon and Israel, which has weakened investors' demand for safe-haven assets like Bitcoin. Additionally, 21Shares' crypto research strategist Matt Mena noted that such pullback behavior has occurred at previous Bitcoin highs, explaining: "In March of this year, when Bitcoin hovered around the historical high of $69,000 from 2021, a similar pattern also emerged. Bitcoin lingered at this price level for nearly seven days before finally breaking through... As the price approached this level, many participants from the previous cycle began to take profits, as they anticipated a potential pullback."