Matrixport: Bitcoin can maintain a bullish trend as long as it does not fall below $109,899

ChainCatcher news, Matrixport stated in an official channel that the fifth round of the Bitcoin bull market is fundamentally different from previous ones, with institutional investors rather than retail investors being the main driving force behind price movements.

Analyst Markus Thielen noted that the most significant feature of this cycle is the embedding of three mini bull markets within the overall upward trend (the 2020-21 cycle only had two). The 21-week moving average can serve as a simple and effective indicator of trend health, currently positioned at $109,899. As long as the Bitcoin price remains above this moving average, the bull market pattern remains intact; a drop below it may signal the beginning of a more complex phase.