BlockBeats news, on August 24, CryptoQuant analyst Axel Adler Jr stated, 'Bitcoin has fluctuated this week within a narrow range of $111,000 to $117,000, with a 90-day return of +5%, indicating the market is in a consolidation phase.'
Spot ETF fund flow (7 days): net outflow of 2400 BTC; 7-day average trading volume is 545,000 BTC/day, distribution pressure has eased.
In terms of the macro environment, the Federal Reserve hinted at possible interest rate cuts, and the decline in yields supports the market, but it is still constrained by tariff and cost risks. The cyclical indicator Index Market Phase shows that Bitcoin is in the late stage of a bull market.
