Analysis: The crypto market as a whole is still in a correction phase.

Matrixport's chart analysis today states that the 21-week moving average is one of the institution's core indicators for observing Bitcoin's bullish/bearish shifts. Looking back at multiple market cycles, it often provides effective follow-up signals during uptrends, while also highlighting risks during sharp pullbacks, helping investors avoid significant downward swings. When Bitcoin broke below this level in the fourth quarter, the institution warned that the correction might deepen further. Although a rebound occurred in late December, it quickly encountered resistance near the 21-week moving average and subsequently fell back, failing to recover. Currently, Bitcoin has not yet firmly established itself above the moving average, indicating that the overall market is still in a correction phase. Short-term tactical rebounds are still possible, but there are currently no clear signals sufficient to support an upward move.