Matrixport: Bull and bear indicators return to the bullish range, Bitcoin may set a new high

Odaily News Matrixport said in its market analysis that its market capitalization to realized market capitalization ratio bull-bear indicator has re-entered the bullish range. Although the agency's technical analysis is usually ahead of on-chain data, the indicator reversal is still of great reference value. Matrixport pointed out that it is rare for such indicators to reverse in the short term, but a similar situation occurred in 2020 and was interpreted as a slowdown in the cycle. If the indicator maintains positive momentum, Bitcoin may be expected to challenge a record high.