Các chỉ báo chu kỳ bitcoin cho thấy đợt điều chỉnh có thể chưa kết thúc

The Huoxing Finance report states that on November 5, CryptoQuant certified analyst CryptoZeno analyzed that the current market structure of bitcoin shows cooling cycle momentum, but no extreme signals typically seen near major historical turning points have emerged yet. The 30-day moving average of the Bitcoin Cycle Extremes Index has declined to 15.8%, falling within the "Watch / Mild Pressure" range. Currently, BTC price has retraced approximately 46% from its previous all-time high, yet this index remains far below levels indicative of active or extreme phases. The Cycle Extreme Oscillator also shows cautious signals, with its 30-day moving average near the bottom of the historical range and clearly below the 1.0 threshold. This indicator rose significantly during multiple active market phases in early 2021 and from 2024 to 2025, but no similar movement has occurred yet. BTC is currently closer to an adjustment and low-activity phase rather than a confirmed cycle bottom. Low indicator readings do not imply that selling pressure has been exhausted; further consolidation or even a new decline may still follow. It will be important to monitor whether the Cycle Extremes Index can sustainably rebound into the "Active Phase," and whether the oscillator recovers in tandem. Until these signals appear, the cooling of market cycle momentum should not be mistaken for a trend reversal.