Matrixport: Bitcoin has fallen below the bull-bear threshold for two consecutive weeks, with multiple technical indicators showing a weakening of capital inflows

Jinse Finance reported that Matrixport released a market outlook stating, "The recent price action of bitcoin indicates that the market is transitioning from a bull phase to a consolidation phase. Although the macro environment remains supportive—including the Federal Reserve's continued policy easing and a relatively stable overall liquidity environment—multiple technical and structural indicators point to short-term weakness. Bitcoin has fallen below its 21-week moving average for two consecutive weeks, a line historically regarded as a reliable boundary between bull and bear phases. At the same time, on-chain liquidity growth has slowed, and the realized market cap indicator also shows that capital inflows are weakening. The flash crash on October 11 highlighted these vulnerabilities—billions of dollars in forced liquidations triggered a chain reaction in the market. Bitcoin's open interest has declined, long-term holders have started to take profits, and volatility remains low. The interplay of a strengthening US dollar, falling bond yields, and weak labor market data suggests that global growth momentum may be slowing, which is likely to result in risk assets—including bitcoin—remaining range-bound until market confidence is restored."