Matrixport: Bitcoin's Rebound Sustainability Still to Be Verified

BlockBeats News, November 10th, Matrixport published a market view stating that, from a technical perspective, the current round of retracement has approached the value-for-money range. The RSI recently dipped to 35, and based on historical experience, technical buy pressure tends to become active near this level, but the sustainability still awaits macro catalyst validation. Short-term catalysts include: the potential resolution of the U.S. government shutdown this week, and Trump's hint at distributing around $2000 in "stimulus checks" to the public, prompting the market to associate it with the retail frenzy driven by checks in 2020-2021.

Overall, considering the net outflow of ETFs in the past week, and institutional cautiousness, the rebound is limited; solely relying on the aforementioned catalysts is difficult to drive a substantial trend reversal independently, and validation through a convergence of liquidity and fundamentals is still needed.