Matrixport: Cryptocurrency Market Momentum Significantly Weakening, Potentially Entering a Longer Consolidation Phase
BlockBeats News, October 22nd, Matrixport released a market view stating that the "True Market Mean Price," also known as the "Active Investor Price," is used to measure the overall holding cost of active investors in the secondary market, which can better represent their average entry price. Based on current data, this indicator still shows that the overall market is in a profit zone, but compared to the 90-day momentum model, market profits are gradually narrowing. Historical experience indicates that this change often signifies a weakening upward momentum and a trend towards cautious market sentiment.
The indicator maintained an overall bullish trend from 2023 to early 2024, but recent readings show a significant weakening market momentum, diminishing investor confidence, and market concerns may enter a more prolonged consolidation phase.
You may also like
Gainers
Latest Crypto News
If Ethereum breaks above $3100, the mainstream CEX cumulative short liquidation pressure will reach $9.05 billion.
Data Center Overheating Causes Nasdaq to Halt Trading for Over 10 Hours, Backup Data Center Not Deployed
Alliance DAO Genesis: Does not believe that L1 tokens are always a bad investment, nor will it short them
As the U.S. Struggles to Mediate, Russia and Ukraine Launch Attacks on Each Other
A certain "Flash Loan Attack Whale" address has accumulated 7066 ETH in the past 5 days through a "Rug Pull Contract Buy Spot" strategy.
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:[email protected]
VIP Services:[email protected]