[Analysis] "Bitcoin rebound is a technical bounce…difficult to view as a signal of a new trend market"

Bitcoin (BTC) showed a short-term rebound after a large correction over the past month, but analysts say it is difficult to interpret this as the start of a new upward cycle.

On the 25th (local time), Matrixport said in a research report, "The current market is in an environment where the structure is complex and risk appetite is weak," and analyzed, "A rebound in such an environment is fast and highly volatile, but is closer in nature to a tactical/short-term trading opportunity."

Earlier, Matrixport also analyzed in a report released last week that with investor sentiment indicators lowered to extreme levels, the probability of a short-term rebound is increasing.

Matrixport added, "The Bitcoin market, which had been in a bullish trend until a month ago, then underwent a clear shift to a bearish phase and a large correction, and many investors failed to respond," adding, "It is more appropriate to regard this rebound as a limited recovery flow rather than interpreting it as the starting point of a new uptrend."