Matrixport published a daily icon analysis saying that Bitcoin is breaking out of its triangulation pattern. Despite strong Asian trading sessions, some of the gains were offset by selling in Europe and the United States. As long as the price remains above $116,817, this is still a tradable breakout and the trend is skewed towards the upside.
A stronger-than-expected consumer price index could challenge market expectations that the Federal Reserve will cut interest rates twice this year. We think this challenge is reasonable, but given the period of seasonal weakness, prices are likely to rise only slowly rather than parabolically.
Money is flowing into the cryptocurrency market through various channels, and patient investors are likely to reap the rewards this year.
Matrixport: If the CPI data exceeds expectations, it may challenge market expectations for the Federal Reserve to cut interest rates twice this year
2025-08-12 06:50:00
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