Deep Tide TechFlow news, on August 4, Matrixport released today's chart stating, "In recent weeks, we have repeatedly pointed out (in Matrixon Target) and in daily updates that Bitcoin is approaching the key technical support level of $112,000. Now, this support has been broken, and market sentiment has begun to change. Although there are still many bullish views, our previous cautious stance has gradually been validated.
This round of decline, on one hand, continues the seasonal weakness commonly seen in August, and on the other hand, is also influenced by the macro uncertainty caused by the downward adjustment of labor market data. A similar situation occurred during the same period last year when the Federal Reserve unexpectedly chose to cut interest rates by 50 basis points due to market pressure.
Given that the market has factored in two rate cuts, with the first cut expected to land as early as September, we still maintain our previous expectation: until there is an improvement in economic and market fundamentals, risk assets may continue to exhibit weak performance.
