Matrixport Analysis:
The prediction made a month ago that Bitcoin would rise to $116,000 has been validated, and market sentiment has turned optimistic. This week, US stock earnings reports, the White House digital assets report delay, and the Federal Reserve interest rate decision may drive volatility.
Historical data shows that Bitcoin performances are usually weak in August and September, with an average return rate of nearly zero in August, rising only three times in three years. Traders may choose to lock in profits. Although still bullish for the year, there may be tactical consolidation in the short term.
