Odaily Planet Daily reports that Matrixport released a chart today, stating that the 21-week moving average has once again become a key indicator for Bitcoin's performance. This level has historically been considered a crucial turning point between bull and bear markets: a move above it often signals a shift from bearish to bullish, while a break below it typically signals a correction. If Bitcoin fails to reclaim this level for an extended period, the current consolidation could potentially escalate into a deeper correction.

The current correction is still relatively mild. Against the backdrop of the market's general expectation that the Federal Reserve will continue to cut interest rates, the overall trend may remain controllable unless the US economy shows a significant weakening.

Historically, the ideal entry point often occurs when Bitcoin briefly falls below this moving average and then re-emerges and maintains this level for a prolonged period. Before this signal appears, investors should remain cautious.