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Analyst: Bitcoin is in a consolidation phase, slightly biased towards a bullish outlook
BlockBeats News, September 7th, CryptoQuant analyst Axel Adler Jr posted, stating, "The Bitcoin market entered a 'consolidation' phase this week: the price consolidated in the $110,000–$112,000 range, near the key support level; derivative sellers lost dominance, but the upward momentum remains weak. On-chain indicators show a decrease in activity, while exchanges' net outflows are positive; in the macro environment, yields are decreasing, the US labor market is soft, providing support for risk assets. The market is in a consolidation phase, slightly leaning towards a cautious uptrend, but it remains highly sensitive to inflation data and options expiry."
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