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Matrixport September Outlook: Bitcoin Consolidation Expected to Continue for 2-3 Weeks Until New Catalysts Drive Price Fluctuations
Summary: Matrixport has released its September market outlook, stating that Bitcoin is currently in a phase where technical and macro factors intersect. With the rare drop in August and historically poor seasonal performance in September, uncertainties are further heightened with key events such as non-farm payroll data, CPI, and the Fed interest rate meeting. Even if ...
Matrixport has released its September market outlook, stating that Bitcoin is currently in a phase where technical and macro factors intersect. With the rare drop in August and historically poor seasonal performance in September, uncertainties are further heightened with key events such as non-farm payroll data, CPI, and the Fed interest rate meeting. Even if the Fed chooses to cut rates, the market may not necessarily see the expected rebound. Bitcoin is currently oscillating in a key range at the boundary between bulls and bears, with most investors choosing to wait and see. The consolidation of Bitcoin is expected to continue for 2-3 weeks until new catalysts drive price fluctuations. Since August, Bitcoin has dropped by 3.9%, significantly lower than the historical average increase of 0.5% during the same period. As September begins, seasonal factors remain bearish, with four out of the past ten years seeing declines, averaging a 2.5% decrease.
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Link: Matrixport September Outlook: Bitcoin Consolidation Expected to Continue for 2-3 Weeks Until New Catalysts Drive Price Fluctuations [Copy]
