Matrixport: Bitcoin at $109,899 is seen as the line between bull and bear markets

ChainCatcher news, Matrixport released an analysis chart indicating that the current fifth round of the Bitcoin bull market presents unique characteristics: it is institution-led and has experienced three phases of upward movement, which is notably different from the two clear phases in 2020-2021. Currently, the 21-week moving average is at $109,899, regarded as the boundary between bull and bear markets.

The analysis points out that if Bitcoin can maintain above this moving average, the bullish trend is expected to continue; conversely, if it falls below this level, it may enter a more challenging market phase.