Matrixport: Cryptocurrency Market Momentum Significantly Weakening, Potentially Entering a Longer Consolidation Phase
BlockBeats News, October 22nd, Matrixport released a market view stating that the "True Market Mean Price," also known as the "Active Investor Price," is used to measure the overall holding cost of active investors in the secondary market, which can better represent their average entry price. Based on current data, this indicator still shows that the overall market is in a profit zone, but compared to the 90-day momentum model, market profits are gradually narrowing. Historical experience indicates that this change often signifies a weakening upward momentum and a trend towards cautious market sentiment.
The indicator maintained an overall bullish trend from 2023 to early 2024, but recent readings show a significant weakening market momentum, diminishing investor confidence, and market concerns may enter a more prolonged consolidation phase.
You may also like
Gainers
Latest Crypto News
Hyperliquid confirms a total of 1.75 million HYPE tokens have been unlocked for developers and core contributors, worth over $60.4 million.
「Whale」 Ape Increases Ethereum Long Position to $28.6 Million, Entry Price $2,981.59
The prices of some Memecoins and Shitcoins have experienced a significant increase, with the MemePenguin coin seeing a 24-hour surge of 50.64%.
「2016 Ethereum Ancient Whale」 Suspected of Selling 7,000 ETH, Still Holding 26,992.67 ETH
Arthur Hayes responds to Monad Co-founder: Unlock All Tokens Now, You Will Absolutely Succeed
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:[email protected]
VIP Services:[email protected]