Matrixport: The sustainability of the Bitcoin rebound still needs to be verified.

On November 10, Matrixport released a market outlook stating that from a technical perspective, this round of pullback has approached the cost-effective range. The RSI recently dipped to 35, and historically, buying interest tends to become active around this level, while sustainability still awaits verification from macro catalysts. Short-term catalysts include: the potential resolution of the U.S. government shutdown this week, as well as Trump hinting at issuing approximately $2,000 “stimulus checks” to the public, which reminds the market of the retail investor frenzy driven by checks in 2020-2021. Overall, given the recent net outflow from ETFs and a phase of institutional observation, the rebound strength is limited; relying solely on the aforementioned catalysts is insufficient to drive a trend reversal, and verification from both capital and fundamentals is still needed.