Summary
- An analysis suggests that "Bitcoin" could fall to $112,000.
- The report stated that the market's cautious attitude was influenced by the Fed's September rate decision.
- It is expected that there will be no significant bullish catalyst at the "Jackson Hole Meeting", and the most important variable is the FOMC meeting on September 17.
An analysis suggests that Bitcoin (BTC) could fall as low as $112,000.
On the 18th (local time), Matrixport stated in a report, "We are not significantly concerned about Bitcoin's downward trend," but added, "Ahead of the Fed's September rate decision, Bitcoin could drop to $112,000." The report further explained, "This has been influenced by the market's cautious attitude."
It continued, "No significant bullish catalyst is expected from the Jackson Hole Meeting," emphasizing, "the most important event is the Federal Open Market Committee (FOMC) meeting to be held on September 17 (local time)."
Meanwhile, the Jackson Hole Meeting will take place over three days, from the 22nd (local time) to the 24th.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit![[Analysis] "XRP risks repeating the 2022 rout…most short-term investors in the red"](https://media.bloomingbit.io/PROD/news/845f37bb-29b4-4bc5-9e10-8cafe305a92f.webp?w=250)
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