Matrixport published today's chart saying, "Over the past few weeks, we have repeatedly suggested in Matrixon Target and daily updates that Bitcoin is approaching the key technical support level of $112,000. Today, that support has been broken and market sentiment has begun to shift. While there are still many bullish views, our previous cautious stance has gradually been validated.
The decline continued the seasonal weakness that is common in August, but was also affected by the macro uncertainty caused by the downward revision of labor market data. A similar situation occurred in the same period last year, when the Federal Reserve chose to unexpectedly cut interest rates by 50 basis points due to market pressure
With two rate cuts already factored in and the first cut expected as early as September, we maintain our expectation that risk assets could remain weak until economic and market fundamentals improve. "
Matrixport: Risk assets may remain weak until economic and market fundamentals improve
2025-08-04 06:58:55
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