Analysis: Bitcoin's on-chain structure shows signs of improvement, but capital inflows remain a key constraint.

In its latest weekly report, Matrixport stated that after a period of pressure at the end of 2025, Bitcoin's on-chain structure has shown signs of improvement. As long as the price holds above key structural support levels, the firm maintains a cautiously bullish tactical outlook. Multiple valuation and positioning indicators are stabilizing, suggesting that downside risks have diminished compared to the previous period, and the market appears to be emerging from a period of vulnerability rather than entering a new round of pullback.