Analyst: Bitcoin is in a consolidation phase, with a slightly cautious bullish outlook

BlockBeats News, on September 7, CryptoQuant analyst Axel Adler Jr stated, "The bitcoin market has entered a 'consolidation' phase this week: the price is consolidating in the $110,000–$112,000 range, near the maximum pain area; derivatives sellers have lost dominance, but growth momentum remains weak. On-chain indicators show a decline in activity, while net outflows from exchanges are positive; in terms of the macro environment, falling yields and a weakening US labor market are providing support for risk assets. The market is in a consolidation state, with a slightly cautious upward bias, but remains highly sensitive to inflation data and options expiries."