Summary
- Matrixport stated that Bitcoin is highly likely to follow the positive trend of the stock market.
- The report said that Bitcoin's lackluster price performance may be attributable to seasonal factors.
- It explained that as expectations for a Fed rate cut grow, the potential for Bitcoin's rise could also increase.
There is an assertion that Bitcoin (BTC) will ultimately follow the positive momentum of the stock market.
On the 30th (local time), Matrixport stated in a report, "Despite strong inflows into spot ETFs and record highs in the US stock market, Bitcoin has not shown a significant rise," but added, "It is highly likely that it will eventually follow the trend of the stock market."
Matrixport suggested that the recent weakness could be due to seasonal factors. The report noted, "(The underwhelming) Bitcoin price may be a result of seasonal elements," and explained, "Bitcoin tends to experience corrections and sideways movements during the summer."
Additionally, it commented, "As dovish expectations for the Fed have increased and hopes for a rate cut have grown, Bitcoin could see significant gains as well."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
