Matrixport: Bitcoin Falls Below Bull-Bear Line for Two Consecutive Weeks as Inflows Weaken
BlockBeats News, October 24th, Matrixport released a market outlook stating, "Bitcoin's recent price trend indicates that the market is transitioning from a bull market phase to a consolidation phase. Despite a still supportive macro environment, including continued accommodative policies by the Federal Reserve and a relatively stable overall liquidity environment, multiple technical and structural indicators show short-term exhaustion."
Bitcoin has consecutively fallen below its 21-week moving average for two weeks, a line historically considered a reliable bull-bear phase boundary. Meanwhile, on-chain liquidity growth has slowed, and realized market cap indicators show diminishing capital inflows. The flash crash on October 11th highlighted these vulnerabilities — billions of dollars in forced liquidations triggered a chain reaction in the market.
Bitcoin's open interest in futures contracts has declined, long-term holders have started to take profits, and volatility remains low. The interaction of a strengthening dollar, falling bond yields, and soft labor market data suggests global growth momentum may slow, potentially causing risk assets, including Bitcoin, to remain range-bound until market confidence is restored."
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