BlockBeats reports that on August 6, Matrixport released today's market analysis stating, 'At this stage, it may still be too early and even somewhat pessimistic to judge whether Bitcoin will fall back to the 21-week moving average of $105,696. However, we still consider this level as a key trend reference: if the price remains above this level, the overall trend remains bullish; once it falls below, we need to be wary of bearish signals.
In the past three weeks, we have consistently expressed a more cautious stance in our weekly reports, and Bitcoin has also experienced a pullback, although market sentiment remains relatively optimistic.
In the short term, some funds may flow back from highly volatile altcoins to Bitcoin, providing some support for the price. However, we still advise investors to remain cautious and manage risk exposure. This judgment has been made multiple times in the past few weeks and is still applicable.
