Matrixport: The rebound of Bitcoin does not mean the bull run has started.

According to Huoxing Finance, Matrixport released a daily analysis indicating that Bitcoin has recently rebounded quickly. Independent analyst Markus Thielen pointed out that this is a phase of correction after the sentiment indicator fell to extreme levels, rather than a signal of a new bull run. A month ago, Bitcoin experienced a significant pullback after shifting from strong to weak, with some investors attributing it to early holders selling, but overlooking the substantial changes in the holdings structure, leverage levels, and capital flows since summer. The analysis suggests that the current market remains in a structurally complex environment with weak risk appetite; such rebounds are typically fast-paced and large in amplitude and should be viewed as short-term trading opportunities rather than trend reversal points.