Matrixport: In the short term, there is still room for upward movement, but whether it can continue depends on whether new funds are injected.

Deep Tide TechFlow News, February 09, Matrixport issued a statement indicating that Bitcoin is attempting to break out of its downward trend and rebound, after experiencing a round of capitulation. This round of decline has washed out vulnerable positions in the market and triggered passive selling pressure and chain liquidations in the derivatives market. In the short term, technical indicators still suggest room for upward movement, but whether the rebound can be sustained depends on the influx of new capital, rather than solely relying on short covering and mechanistic hedging funds.

Analysts point out that Bitcoin is still in a larger bear market reset phase. Rapid rallies are not uncommon during this stage, but they are often unsustainable. On-chain data continues to confirm that the current environment remains fragile, characterized by weakening demand momentum and limited structural accumulation. Meanwhile, options hedging activity is heating up, further amplifying market volatility. If spot market support remains weak, prices are more likely to gap down, and the impact of derivatives on Bitcoin prices will also increase.