[Analyst: Cyclical Indicators Show Bitcoin in the Late Stage of a Bull Market] BlockBeats News, August 24, CryptoQuant analyst Axel Adler Jr stated in an article, 'Bitcoin has been fluctuating within a narrow range of $111,000 to $117,000 this week, with a 90-day return of +5%, indicating the market is in a consolidation phase. Spot ETF fund flows (7-day): net outflow of 2,400 BTC; 7-day average trading volume is 545,000 BTC/day, with distribution pressure easing. On the macroeconomic front, the Federal Reserve hinted at potential rate cuts, and declining yields have provided support to the market, though it remains constrained by tariff and cost risks. The cyclical indicator Index Market Phase shows that Bitcoin is in the late stage of a bull market.'