**[Matrixport: Bitcoin Has Entered a Micro Bear Market, the Market Is at a Critical Turning Point]** According to a report by Jinse Finance, Matrixport released a weekly report stating, "Bitcoin has entered a bear market phase. A set of indicators that we have been tracking long-term and have validated through multiple cycles had already issued bearish signals before the current downturn began. At that time, on-chain and market data showed weakening momentum and a lack of substantial catalysts to support a rebound. Subsequently, Bitcoin significantly declined from its previous price level, confirming the reliability of these signals. Recent trends exhibit similarities across multiple dimensions to historical 'micro bear market' phases. In such market conditions, it is particularly important to remain sensitive to key signals and enforce strict risk management. From a capital and macro perspective, ETF inflows have slowed, early-stage and seasoned funds have reduced positions, and short-term macro catalysts are insufficient. Future trends will largely depend on the Federal Reserve's subsequent policy directions. Currently, the market is at a critical turning point, and several important structural price levels and macro triggers will determine whether the market will further decline or enter a bottoming phase."