Analyst: Bitcoin is in a consolidation phase, slightly cautiously bullish.

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BlockBeats news, on September 7, CryptoQuant analyst Axel Adler Jr stated, "The Bitcoin market has entered a 'consolidation' phase this week: prices are consolidating in the $110,000–$112,000 range, near the maximum pain point area; derivative sellers have lost dominance, but the growth momentum remains weak. On-chain indicators show a decline in activity, while the net outflow from trading platforms is positive; in terms of the macro environment, declining yields and a weak U.S. labor market provide support for risk assets. The market is in a consolidation state, slightly tilted towards cautious upward movement, but is highly sensitive to inflation data and options expiration."

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