Matrixport analyzes bitcoin's counter-trend rebound and market risks
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Matrixport's daily chart analysis states that after experiencing capitulation-style sell-offs, bitcoin is attempting a counter-trend rebound. This round of decline has flushed out weak positions and triggered passive selling pressure and a chain of forced liquidations in the derivatives market. In the short term, there is still room for technical upside, but whether the rebound can be sustained depends on the inflow of new capital, rather than relying solely on short covering and mechanical hedging funds. Matrixport points out that bitcoin is still in the bear market reset phase, and rapid surges are difficult to sustain. On-chain data shows weakening demand momentum and limited structural accumulation. Hedging activity in the options market is heating up, and when spot demand is weak, prices may experience gap-down declines, with derivatives having an increasing impact on price movements.
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