06:56
Matrixport: The gap between short-term enthusiasm and long-term confidence is rapidly narrowing, and the coming weeks may become a key Node in determining Bitcoin's trend.
Golden Finance reported that Matrixport released a weekly report stating that Bitcoin has reached a new historical high, but the overall momentum appears particularly weak. Key indicators that had been continuously rising are now showing significant divergence, raising doubts about the sustainability of this round of pump. Debt expansion, seasonal factors, and on-chain structural changes are all acting on the market. Some data reflects a tendency for profit-taking in the market, while other indicators show that the core driving force of the bull run is still present. The gap between short-term enthusiasm and long-term confidence is rapidly narrowing, and the coming weeks may become a key Node in determining the trend.
In the past six weeks, we have consistently maintained a relatively cautious trading position. The reason is that Bitcoin's recent breakout attempts lack the confidence and subsequent momentum displayed during previous bull runs. The overall timing seems a bit awkward, and the key indicators that have consistently supported strong upward movement have not appeared simultaneously. Therefore, it is not surprising that Bitcoin is currently maintaining a range-bound oscillation pattern.
BTC4.1%