[Matrixport: Market Enters a Phase of Consolidation, Premature to Conclude 'Cycle Peak'] BlockBeats News, November 7th, Matrixport shared its market outlook, stating that Bitcoin has entered a phase of consolidation, with its price facing both macroeconomic and structural market pressures. As the Federal Reserve repeatedly emphasizes that it will not rush to cut interest rates or ease policies, market expectations for rapid easing have gradually cooled, leaving a lack of new easing catalysts in the short term. Meanwhile, the U.S. dollar has stabilized and rebounded near its cycle lows, liquidity has tightened marginally since mid-summer, and the strong capital inflows brought by spot ETFs earlier this year have largely been absorbed, with subsequent spot buying momentum significantly slowing. These multiple factors combined have suppressed the continued upward trend of the market. From the perspective of position structures, the participation and risk appetite of major buyer groups have weakened simultaneously. Some early large holders have opted to take profits in batches, while capital inflows into spot ETFs have also cooled. Coupled with several recent liquidation events, native crypto funds have proactively deleveraged, resulting in more cautious overall positioning. On the price level, Bitcoin has fallen below several key cost reference ranges. Historically, when the market is in this range, it often enters a consolidation phase rather than immediately resuming a trend. Overall, these signals are insufficient to support the conclusion that 'this cycle has already peaked.' Instead, they are more indicative of the typical slowdown and consolidation seen in the later stages of a cycle. Structurally, the market is undergoing a process of position rotation and contraction, creating conditions for more cost-effective allocation ranges in the future. Looking ahead, if the global liquidity environment shifts from tight to loose and the monetary policy paths of major central banks become clearer, Bitcoin's medium-term performance in 2026 and beyond is likely to improve. Until then, maintaining patience remains the more prudent choice.