With the advent of the first luminous sources at Cosmic Dawn (CD), the redshifted 21-cm signal, from the neutral hydrogen in the Inter-Galactic Medium (IGM), is predicted to undergo a transition from absorption to emission against the CMB. Using simulations, we show that the redshift evolution of the sign and the magnitude of the 21-cm bispectrum can disentangle the contributions from Ly$alpha$ coupling and X-ray heating of the IGM, the two most dominant processes which drive this transition. This opens a new avenue to probe the first luminous sources and the IGM physics at CD.