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Analyst: Cycle indicators show Bitcoin is in the late stage of a bull run.
BlockBeats reports that on August 24, CryptoQuant analyst Axel Adler Jr stated that “Bitcoin has been oscillating in a narrow range of $111,000 to $117,000 this week, with a 90-day return of +5%, indicating that the market is in a consolidation phase. Spot ETF fund flow (7 days): net outflow of 2,400 BTC; the 7-day average Trading Volume is 545,000 BTC/day, and distribution pressure has eased. In terms of the macro environment, the Fed hinted at possible interest rate cuts, and declining yields provide support to the market, but it is still constrained by tariff and cost risks. The cycle indicator Index Market Phase shows that Bitcoin is in the late stage of a bull run.”