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Matrixport: Bitcoin Breaks Triangle Pattern, Funds Continuously Flowing into Crypto Market

Summary: Matrixport's market analysis released today indicates that Bitcoin is breaking out of its triangle pattern, with strong gains during the Asian trading session but some selling during the European and American sessions. As long as Bitcoin stays above $116,817, this remains a tradable breakout with a bullish trend. If CPI data exceeds expectations, it may ...

Matrixport's market analysis released today indicates that Bitcoin is breaking out of its triangle pattern, with strong gains during the Asian trading session but some selling during the European and American sessions. As long as Bitcoin stays above $116,817, this remains a tradable breakout with a bullish trend. If CPI data exceeds expectations, it may reduce market expectations for two Fed rate cuts this year, which we believe is possible. However, given the seasonally weaker period, prices may steadily rise rather than accelerate parabolically. Funds continue to flow into the crypto market through various channels, and patient investors are likely to see returns this year.

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