According to Golden Finance News, Matrixport pointed out in its daily chart analysis that Bitcoin has now successfully broken through the short-term downward trend and is showing a bullish breakout signal from the consolidation triangle. This pattern usually indicates the continuation of the trend, meaning that the price of Bitcoin may continue to rise.
The market originally expected that the Bitcoin market would be relatively calm this summer, but the strong rise of Bitcoin this time indicates that new funds are flowing into the market to chase the increase. Meanwhile, the market’s previous concerns over the tariff issue have been gradually easing. Although this week’s CPI data is expected to exert some upward pressure on the price of Bitcoin, given the current upward trend, such pressure is unlikely to disrupt the upward momentum of Bitcoin.
In terms of macroeconomics, market expectations for interest rate cuts in the United States this year have declined. As the US economy has shown stronger resilience than expected, the market currently only predicts one interest rate cut this year. However, as long as the price of Bitcoin can remain above $105,075, the overall upward trend will continue to be valid. This analysis provides investors with an important reference basis, helping them better grasp the short-term trends and investment opportunities in the Bitcoin market.
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