Matrixport released a daily chart analysis saying that Bitcoin has retreated to the breakout range of $106,000 to $108,000 that we have been closely monitoring.
In our recent Matrix on Target report, we took a more conservative stance, warning that this dip of $108,000 may be just the beginning. Since the end of July, we have emphasized that seasonal weakness has exacerbated the headwinds facing Bitcoin.
Now, with US jobs data coming out this week and Bitcoin at a key technical level, a potentially significant move is on the horizon. While many traders will be surprised by Bitcoin's further decline, we can't rule it out. Interest rate cuts are often considered a catalyst for cryptocurrency gains, but they rarely come without leaving a "scar".
Matrixport: The possibility of bitcoin falling further cannot be ruled out
2025-09-01 06:59:07
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