Report: Bitcoin's short-term pullback is unlikely to change the long-term bullish outlook, but the loss of key support level may trigger a trend reversal.
On June 6, Matrixport's report noted that their model predicts an uptrend despite some signs of weakness in Bitcoin's recent price action. However, if the price of Bitcoin falls below the key support level of $96,719, then the trend may shift from bullish to bearish.
The report also mentioned that the current U.S. macroeconomic situation is sending out dual risk signals: on one hand, core economic indicators have fallen to their lowest point in months, which cannot be ignored in itself;
On the other hand, most investors are still focused on ETF capital inflows, thereby neglecting the market turning point warnings that have quietly emerged in capital movements, stablecoin dynamics, and forward-looking data. This deviation in focus may be causing potential risks to be underestimated.
Based on concerns about the macro economy, the report suggests traders lock in profits. With Bitcoin, Ethereum, and Solana all experiencing varying degrees of pullback, the market has shown signs of consolidation. Meanwhile, as U.S. macroeconomic data weakens, the market may enter a period of uncertainty; and the previous surge in demand may have been due to prepositions under the expectation of Trump tariffs, but this trend is gradually returning to normal.
Meanwhile, the US ISM Non-Manufacturing PMI data unexpectedly declined, indicating a slowdown in economic momentum. The drop in oil prices also reflects weak market demand, and a weaker dollar may also create conditions for interest rate cuts.
However, the Federal Reserve may keep interest rates unchanged for longer than expected, as officials are concerned that Trump's tariff policy could push prices up again, making it unlikely for them to ease monetary policy too soon.
In summary, while the current trend of Bitcoin remains positive, market participants must not be complacent.
Can Bitcoin hold the support level of $96,719, and how macro factors such as tariff policies and Federal Reserve interest rate decisions will profoundly affect its short-term trend.
Therefore, investors should remain vigilant and be prepared to respond to market fluctuations.
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Report: Bitcoin's short-term pullback is unlikely to change the long-term bullish outlook, but the loss of key support level may trigger a trend reversal.
On June 6, Matrixport's report noted that their model predicts an uptrend despite some signs of weakness in Bitcoin's recent price action. However, if the price of Bitcoin falls below the key support level of $96,719, then the trend may shift from bullish to bearish.
The report also mentioned that the current U.S. macroeconomic situation is sending out dual risk signals: on one hand, core economic indicators have fallen to their lowest point in months, which cannot be ignored in itself;
On the other hand, most investors are still focused on ETF capital inflows, thereby neglecting the market turning point warnings that have quietly emerged in capital movements, stablecoin dynamics, and forward-looking data. This deviation in focus may be causing potential risks to be underestimated.
Based on concerns about the macro economy, the report suggests traders lock in profits. With Bitcoin, Ethereum, and Solana all experiencing varying degrees of pullback, the market has shown signs of consolidation. Meanwhile, as U.S. macroeconomic data weakens, the market may enter a period of uncertainty; and the previous surge in demand may have been due to prepositions under the expectation of Trump tariffs, but this trend is gradually returning to normal.
Meanwhile, the US ISM Non-Manufacturing PMI data unexpectedly declined, indicating a slowdown in economic momentum. The drop in oil prices also reflects weak market demand, and a weaker dollar may also create conditions for interest rate cuts.
However, the Federal Reserve may keep interest rates unchanged for longer than expected, as officials are concerned that Trump's tariff policy could push prices up again, making it unlikely for them to ease monetary policy too soon.
In summary, while the current trend of Bitcoin remains positive, market participants must not be complacent.
Can Bitcoin hold the support level of $96,719, and how macro factors such as tariff policies and Federal Reserve interest rate decisions will profoundly affect its short-term trend.
Therefore, investors should remain vigilant and be prepared to respond to market fluctuations.
#比特币趋势 # cryptocurrency market #Matrixport analysis