CoinVoice has learned that Matrixport released a daily icon analysis stating that Bitcoin is breaking out of its triangular consolidation pattern. Despite strong performance during the Asian trading session, sell-offs in Europe and the U.S. have offset some of the gains. As long as the price can stay above $116,817, this remains a tradable breakout, with the trend leaning towards an upward movement.

If the Consumer Price Index (CPI) data exceeds expectations, it could challenge the market's expectation of two interest rate cuts by the Federal Reserve this year. We believe this challenge is reasonable, but considering the seasonal weakness period, prices may only rise slowly rather than accelerate parabolically. Funds are continuously flowing into the cryptocurrency market through various channels, and patient investors are likely to see returns within this year.[Original link]