Matrixport analyzes Bitcoin's counter trend rebound and market risks

Matrixport has released daily chart analysis stating that Bitcoin is attempting to rebound against the trend after experiencing a surrender style sell-off. This round of decline has washed away fragile positions and triggered passive selling pressure and chain consolidation in the derivatives market. There is still room for improvement in short-term technical aspects, but the sustainability of the rebound depends on the relay of new funds, rather than relying solely on short covering and mechanistic hedge funds. Matrixport pointed out that Bitcoin is still in the bear market reset stage, and the rapid rise is difficult to sustain. On chain data shows weak demand momentum and limited structural holdings. The hedging activities in the options market are heating up, and when the spot market is weak, the price may experience a short circuit downward trend, and the impact of derivatives on prices is intensifying.