**[Matrixport: Bitcoin Price Falls Below Key Level, Bear Market Confirmed]** The weekly report released by Matrix on Target indicates that Bitcoin's price has fallen below the key level highlighted in the October 31, 2025, report, confirming the downward trend. The current Bitcoin retracement is closely aligned with the downward phase of historical cycles, and the market's focus has shifted to "when the next optimal allocation window will arrive." Analysts identified the starting point of the Bitcoin bull market on October 28, 2022, and predicted on July 6, 2023, that the peak of this cycle could reach $125,000. Between late 2024 and October 2025, Bitcoin has repeatedly exhibited characteristics of the fifth bull market nearing its end, with bullish momentum gradually weakening.