Data: Matrixport, the derivation market implies a big market is coming.

According to ChainCatcher news, the latest weekly report from Matrix on Target shows that Bitcoin is approaching the key technical level of 110,000 USD. Multiple on-chain indicators and derivation data suggest that a new round of major market activity may be about to unfold. The report points out that the financing costs, leverage ratios, and trading volume indicators of Bitcoin, Ethereum, and SOL are sending signals inconsistent with the price movement. Currently, the price of Bitcoin is at a convergence point of a symmetrical triangle, a pattern that historically often leads to a rapid breakout. It is noteworthy that the structure of market funds is undergoing a shift, with the narrative of “digital asset treasury” gradually retreating. Considering the current high-leverage environment in the market, this year's fluctuation may erupt earlier than in previous years, and market participants need to be alert to structural risks.