Report: Bitcoin's Short-Term Pullback Difficult to Change Long-Term Bullish Outlook, But Key Support Level Breakdown May Trigger Trend Reversal
On June 6, Matrixport's report pointed out that although Bitcoin's recent price movements have shown some signs of weakness, their model still predicts that the market is on an upward trend. However, if Bitcoin's price falls below the key support level of $96,719, the trend may shift from bullish to bearish.
The report also highlighted that the current U.S. macroeconomic environment is sending dual risk signals: on one hand, core economic indicators have dropped to their lowest levels in months, which cannot be ignored;
on the other hand, most investors are still focused on ETF fund inflows, thereby overlooking the capital flow, stablecoin dynamics, and forward-looking data that have quietly revealed market turning point warnings. This deviation in focus may be causing potential risks to be underestimated.
Based on concerns regarding the macroeconomy, the report suggests that traders lock in profits. With Bitcoin, Ethereum, and Solana all experiencing varying degrees of pullback, the market has shown signs of consolidation. Meanwhile, as U.S. macroeconomic data softens, the market may enter a period of uncertainty; and the previous surge in demand may have been due to early positioning under expectations of Trump’s tariffs, but this trend is currently gradually returning to normal.
At the same time, the unexpected decline in the U.S. ISM Non-Manufacturing PMI data suggests a slowdown in economic momentum. The drop in oil prices also reflects weak market demand, and the weakening dollar may also create conditions for interest rate cuts.
However, the Federal Reserve may maintain interest rates for a longer period than expected, as officials are concerned that Trump's tariff policies could push prices higher again, so they are unlikely to ease monetary policy too soon.
In summary, while Bitcoin's current trend remains positive, market participants must not let their guard down.
Whether Bitcoin can hold the support level of $96,719, along with macro factors like tariff policies and Federal Reserve interest rate decisions, will profoundly impact its short-term trajectory.
Therefore, investors should remain vigilant and be prepared to respond to market volatility.
