Matrixport: Bitcoin is technically oversold, and the market remains to be confirmed by macro signals

Matrixport released a weekly report analysis saying, "The market has recently entered a correction stage, the momentum of bitcoin has weakened, and the capital market and transaction heat have cooled down simultaneously. Trading volume has shrunk, capital rates have remained low, and the market structure has tended to loosen.
Due to the absence of a clear signal from the Federal Reserve, the market may continue to stay on the sidelines and enter a period of consolidation. In the very short term, oversold stochastic indicators may suggest the possibility of a technical rebound. However, we remain skeptical about its sustainability and prefer to believe that prices will continue to trade sideways.
The central question facing bitcoin today is whether the repricing of US growth expectations will trigger a recovery in real volatility. As volatility continues to fall, some public companies with large bitcoin holdings have contracted their net asset values (NAVs), undermining their ability to raise funds and further increase their bitcoin holdings by issuing new shares.
It is still recommended to be patient and wait for a clear bottom signal to appear or market momentum to pick up again. In Bitcoin trading, you cannot reposition at a low level without selling at a high level. "