TechFlow, November 14 — Matrixport released a weekly report stating, "Bitcoin has entered a bear market phase. A set of indicators we have long tracked—and which have proven effective across multiple cycles—issued a bearish signal prior to the current downturn. At that time, on-chain and market data showed weakening momentum and lacked substantive catalysts to support a rebound. Since then, Bitcoin has clearly declined from its previous level, confirming the reliability of the signal.
Recent price action shows similarities to historical 'minor bear markets' across multiple dimensions. In such a market environment, it is especially important to remain sensitive to key signals and enforce strict risk management. From a capital and macro perspective, ETF inflows have slowed, early and seasoned investors are reducing positions, and there is a lack of short-term macro catalysts. Future price direction will largely depend on the Federal Reserve's next policy moves.
Currently, the market is at a critical inflection point, where several key structural levels and macro triggers will determine whether prices continue to decline or enter a bottoming phase."
