Matrixport: Bitcoin May Have Entered a Minor Bear Market Phase

Jinse Finance reported that Matrixport stated, "Relative to market size, cryptocurrency trading volume remains weak. Over the past 12 months, total market capitalization has risen from $2.4 trillion to $3.7 trillion, while daily trading volume has dropped from $352 billion to $178 billion, a decrease of 50%. This divergence may indicate more limited market participation and reduced upward momentum. If this situation persists, a cautious stance may be necessary. According to recent on-chain indicators, bitcoin may have entered a minor bear market phase. Although there are several potential catalysts, their ability to drive a sustained upward trend remains uncertain. In a low-liquidity environment, reported trading activity and fee income on major exchanges remain sluggish."