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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.
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