#StrategyBTCPurchase

Matrixport: Bitcoin’s Bullish Momentum Remains Intact Above Key Support Level

Bitcoin ($BTC ), the leading cryptocurrency by market capitalization, has recently experienced notable price fluctuations. After briefly declining to the $100,000 level, BTC rebounded to surpass $110,000 as of yesterday.

In the context of anticipated market volatility ahead of the release of the U.S. Consumer Price Index (CPI) and Producer Price Index (PPI), analysts from digital asset investment firm Matrixport maintain a bullish outlook on Bitcoin. According to their analysis, BTC’s recent price action confirms a breakout from a symmetrical triangle formation—a technical pattern typically indicative of a continuation in the prevailing trend.

Matrixport emphasized that the breakout above the $106,000 resistance level signals renewed capital inflows into the Bitcoin market. This influx of investment, combined with a reduction in investor concerns related to potential tariff hikes, is reinforcing bullish sentiment.

Despite expectations of elevated inflation readings from the upcoming U.S. economic data, Matrixport analysts argue that Bitcoin’s upward trajectory is likely to remain intact. They assert that the resilience of the U.S. economy and improving market confidence support continued strength in BTC.

“Bitcoin has decisively broken above the $106,000 downtrend line and exited the symmetrical triangle formation, a move that points to significant new capital inflows,” Matrixport stated. “Market concerns regarding tariffs have also diminished. While May’s CPI data is expected to show higher inflation, this is unlikely to derail Bitcoin’s current momentum. As long as BTC maintains support above $105,075, the rally is projected to continue.”

This analysis suggests that the broader macroeconomic backdrop—characterized by a resilient U.S. economy and improving investor risk appetite—continues to favor Bitcoin’s bullish trend, provided key technical support levels hold.