According to BlockBeats, CryptoQuant analyst Axel Adler Jr has indicated that the Bitcoin market is currently in a "consolidation" phase this week. The cryptocurrency's price is fluctuating between $110,000 and $112,000, hovering near the maximum pain point area. While derivative sellers have lost their dominant position, growth momentum remains weak. On-chain indicators reveal a decline in activity, with a positive net outflow from trading platforms.
In terms of the macroeconomic environment, declining yields and a weak U.S. labor market are providing support for risk assets. The market is in a consolidation state, showing a slightly cautious upward trend. However, it remains highly sensitive to inflation data and options expirations.
