Mixed-halide perovskites have attracted great attention in applications of lighting and photovoltaic devices due to their excellent properties. Understanding the phase segregation mechanism of mixed-halide perovskite has significance for suppressing the performance degradation of optoelectronic devices. Herein, we investigate the mixed-halide perovskite nanocrystals (NCs) in isolation from the external factors (oxygen, moisture, and pressure) using glass encapsulation, which shows excellent photostability against phase segregation. By monitoring the structural evolution of the NCs in glass matrices, the coexisting phase segregation and amorphization of mixed-halide perovskites are observed in real-time. The results show that thermal-induced local temperature increase plays a dominant role in the phase segregation of mixed-halide perovskite NCs. The recovery process is driven by the spontaneous crystallization of the amorphous mixed-halide phase. The clarified dynamic equilibrium process between the compositional segregation (mixing) and structural disorder (order) gives us a better insight into the reversible phase segregation mechanism of mixed-halide perovskite.