Cycle indicators suggest that Bitcoin is in the late stage of the bull market. On August 24, CryptoQuant analyst Axel Adler Jr. published that 'Bitcoin is fluctuating this week in a narrow range of $111,000 to $117,000, with a 90-day yield of +5%, indicating that the market is in a correction phase. The inflow of spot ETF funds (over 7 days): a net inflow of 2,400 BTC; the average trading volume over 7 days is 545,000 BTC/day, alleviating distribution pressure. Regarding the macro environment, the Federal Reserve (FED) indicated the possibility of lowering interest rates, providing support for the market, but still limited by tariff risks and costs. Cycle indicators Index Market Phase suggest that Bitcoin is in the post-bull market phase.