TechFlow reported on January 17 that according to Matrixport's latest weekly report, Bitcoin technical indicators suggest increasing downside risks. The report noted that Bitcoin is currently attempting to hold the $90,000 price level, and although recent trading volume has surged, this is primarily driven by capital flowing back from smaller cryptocurrencies into Bitcoin rather than new funds entering the crypto market. Notably, if Bitcoin breaks above the $103,000 level, the trend could turn bullish. Currently, the Greed and Fear Index is approaching a contrarian buy signal, with the 30-day rolling return nearing -10%, a level that typically indicates a potential slowdown or reversal of the downward trend.
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