Matrixport: Bitcoin's restorative rally does not mean the start of a bull market

Matrixport released a daily analysis saying that Bitcoin has rebounded rapidly recently. Independent analyst Markus Thielen pointed out that this is a phased repair after sentiment indicators fell to extreme levels, rather than a new round of bull market signals. A month ago, Bitcoin saw a sharp correction after turning from strength to weakness. Some investors attributed it to the sell-off of early holders, but ignored the substantive changes in position structure, leverage level and capital flow since the summer. The analysis believes that the current market is still in a complex structure and weak risk appetite environment. Such rebounds are usually fast-paced and large, and should be regarded as short-term trading opportunities rather than trend turning points.