Matrixport today's market analysis says that at this stage, it may still be premature and even pessimistic to judge whether Bitcoin will fall back to the 21-week moving average of $105,696. But we still regard this level as a reference for key trends: if the price is above this level, the overall trend is still bullish; if it falls below, you need to be vigilant for bear market signals.
Over the past three weeks, we have consistently expressed a more cautious stance in our weekly reports, and Bitcoin has also experienced a correction, although market sentiment remains relatively optimistic.
In the short term, some funds may flow back into Bitcoin from highly volatile counterfeit products, which provides some support for the price. However, we still recommend that investors remain cautious and control risk exposure. This judgment has been made many times in the past few weeks and still applies.
Matrixport: If the bitcoin price is above $105,696, the overall trend remains bullish
2025-08-06 07:07:06
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