According to online reports, Matrixport issued a market view saying,"The recent price trend of Bitcoin shows that the market is transitioning from a bull market stage to a consolidation stage. Although the macro environment remains supportive, including the Federal Reserve's continued policy easing and the overall liquidity environment relatively stable, a number of technical and structural indicators point to fatigue in the short term. Bitcoin has fallen below its 21-week moving average for two consecutive weeks, which has traditionally been regarded as a reliable dividing line between the bull and bear phase. At the same time, liquidity growth in the chain has slowed, and realized market value indicators have also shown that capital inflows are weakening. The flash crash on October 11 highlighted these vulnerabilities-billions of dollars in forced liquidations triggered a chain reaction in the market. The size of open interest in Bitcoin has declined, long-term holders have begun to take profits, and volatility remains low. The interplay of a stronger dollar, falling bond yields and weak labor market data suggests that global growth momentum may slow, which is likely to cause risky assets, including Bitcoin, to remain range-bound until market confidence is re-established.