Matrixport: Bitcoin shows a phased adjustment characteristic during the Federal Reserve's wait-and-see period and market pressure phase

CoinVoice latest reports that Matrixport stated in the latest issue of “Matrix on Target Weekly Report” that the most recent FOMC meeting results were largely in line with market expectations, but the dot plot did not provide clear guidance on the subsequent policy path, instead increasing market uncertainty about the future pace. However, based on the performance of interest rates and asset prices, these uncertainties are still relatively limited in the current pricing. Powell’s remarks have been cautious, coupled with early signs of weakness in the labor market, indicating that the current macro environment has changed since the beginning of the year. The report pointed out that in this context, Bitcoin for the first time in this bull market broke below a key long-term trend line, with its movement pattern resembling the market rhythm before and after mid-term elections in previous years. Despite recent discussions about the Fed restarting balance sheet expansion heating up, overall market liquidity in the crypto space remains tight, retail trading activity has not yet rebounded significantly, and political factors affecting market sentiment and trading behavior may not yet be fully priced in. Matrixport believes that amid multiple intertwined factors, the market is transitioning from a single trend to a more complex structure. At this stage, the importance of position management and risk control has become more evident. The report maintains the previous view that even if the current market is not defined as a bear market, there is still a high probability that this consolidation phase will continue.