[Matrixport: BTC Remains in a Bear Market Environment, but Maintains a Relatively Positive Outlook on Overall Risk Assets] Odaily Planet Daily reports that Matrixport's analysis indicates: Based on on-chain data and technical indicators, Bitcoin remains in a bear market environment, with the most straightforward signal being that its price is still below the 21-week moving average. Additionally, U.S. midterm election years are typically accompanied by increased policy uncertainty and fluctuations in risk appetite. This time window coincides with the phase of Bitcoin's typical four-year cycle, during which prices have historically been more prone to weakness. Even so, a relatively positive outlook on overall risk assets is maintained. The reflation narrative persists, and the U.S. dollar remains in a relatively weak operating range. To hedge against the pressure caused by weakening purchasing power, dollar-denominated funds tend to maintain a relatively high allocation to risk assets. Recently, Trump has neither sent a clear supportive signal for the dollar's weakness nor made a strong statement, which the market interprets as an increased tolerance for further dollar weakening. Coupled with some international funds increasing allocations to non-U.S. assets and reducing concentration in U.S. assets, under this backdrop, short-term reflation trades may still find support.