While Bitcoin has broken new record numbers over the past two days, market expectations for its continued rise to higher levels are increasing.
Matr,,ixport, a cryptocurrency service provider, released its latest analysis on this matter. In its latest analysis, conducted on its X account, Matri,,xport confirmed that the rise of Bitcoin is not over yet, and the expected fundamental factors have not yet been taken into account.
The rise of Bitcoin is not over yet!
Analysts at Matri,,xport indicated that Bitcoin reached a new all-time high, but unlike previous surges, this increase occurred with little leverage and limited purchases by individuals.
Analysts reported that the recent surge is driven by strong flows from spot exchange-traded funds and increasing institutional demand, adding that the main catalysts, including rising political pressure on the Federal Reserve to cut interest rates, the potential passage of the GENIUS Act, and the historically strong seasonal nature of July, have not yet been accounted for.
"This rise in Bitcoin's price is supported by strong institutional buying momentum and robust flows from exchange-traded funds, distinguishing the recent surge from its previous peaks."
Open interest in Bitcoin is gradually increasing, but there are currently no significant new leveraged buy positions.
At this stage, this increase should be viewed as a structural upward trend rather than speculation.
Finally, Matr,,ixport mentioned that Bitcoin is likely to maintain its upward momentum, listing events that could trigger this rise.
If the seasonal momentum and Bitcoin exchange-traded fund flows continue in July, the rise may persist.
The upward momentum is expected to continue as the U.S. House of Representatives announces progress in legislation during "Cryptocurrency Week," which begins on the 14th of the month.
At this stage, important variables, such as the interest rate policy followed by the Federal Reserve and the schedule for the Consumer Price Index (CPI) announcement next week, as well as the GENIUS Act, remain unaccounted for. $BTC $ETH $XRP #BTCBreaksATH #ETHBreaks3k #ShariaEarn #TrendTradingStrategy #FOMCWatch
