Analysis: Bitcoin is attempting to initiate a counter-trend rebound, indicating a potential shift in market momentum. Currently, it is testing key support levels, and traders are watching for signs of a reversal or further decline. The overall trend remains cautious, but the recent upward movements suggest a possible short-term recovery. Investors should remain vigilant for any breakout signals and consider risk management strategies accordingly.

Mars Finance News, Matrixport published an analysis stating that after a capitulation-style sell-off, Bitcoin is attempting a countertrend rebound. This round of decline has washed out fragile positions and triggered passive selling pressure and chain reactions of forced liquidations in the derivatives market. In the short term, technical indicators still suggest room for upward movement; however, whether the rebound can go further depends on the influx of new capital rather than just short covering and mechanistic hedging funds. As previously mentioned, Bitcoin remains in a larger bear market reset phase. During this stage, rapid surges are not uncommon, but they are often difficult to sustain. On-chain data continues to confirm that the current environment remains fragile: demand momentum is weakening, and structural accumulation is limited. Meanwhile, options hedging activity is heating up, further amplifying volatility. If spot demand remains weak, prices are more likely to gap downward, and the impact of derivatives on Bitcoin prices will also increase.