Matrixport: Cryptocurrency concept stocks enter a consolidation phase after a strong 18-month rally

ChainCatcher news, Matrixport released a daily icon analysis stating that over the past 18 months, our cryptocurrency concept stock index has significantly outperformed Bitcoin. However, with the recent pullback in stock prices of leading companies such as MicroStrategy, Coinbase, and Metaplanet, the index has begun to show signs of a pullback.

The cooling of buying interest after Circle's listing further confirms the lack of momentum in the new stock market. Currently, the participation of institutions is insufficient, which may reflect the seasonal weakness of summer. In the absence of significant cryptocurrency IPO support, prices may further consolidate in the short term.