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According to a report from 深潮 TechFlow on August 6, Matrixport released a chart today stating, "At this current stage, it may still be too early, and even somewhat pessimistic, to determine whether Bitcoin will fall back to the 21-week moving average of $105,696. However, we still regard this level as a reference for the key trend: if the price is above this level, the overall trend remains biased towards long positions; if it breaks below, one must be wary of Bear Market signals.
In the past three weeks, we have consistently expressed a more cautious stance in our weekly reports. Bitcoin has also seen a pullback, although market sentiment remains relatively optimistic.
In the short term, some funds may flow back from highly volatile altcoins to Bitcoin, providing certain support for the price. However, we still advise investors to remain cautious and control their risk exposure. This assessment has been mentioned multiple times in the past few weeks and remains applicable.