TechFlow, on August 8, Matrixport released a weekly report analyzing that "the market has recently entered an adjustment phase, with Bitcoin's momentum weakening and both funding levels and trading热度 cooling down. Trading volume is shrinking, funding rates remain low, and market structure is becoming looser.
As the Federal Reserve has not yet released clear signals, the market may continue to stay cautious and enter a consolidation period. In the very short term, oversold stochastic indicators might suggest the possibility of a technical rebound, but we remain skeptical about its sustainability, and are more inclined to believe prices will continue to trade sideways.
The core issue currently facing Bitcoin lies in whether the repricing of U.S. economic growth expectations will trigger a rise in realized volatility. As volatility continues to decline, net asset values (NAV) of some public companies holding large amounts of Bitcoin have contracted, weakening their ability to raise capital through new share issuance and further accumulate Bitcoin.
We still recommend staying patient, waiting for clear bottom signals or a recovery in market momentum. In Bitcoin trading, one cannot reposition at lower levels without selling at higher levels."
