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Matrixport September Outlook: Bitcoin Consolidation Expected to Continue for 2-3 Weeks Until New Catalyst Drives Price Movement
BlockBeats News, August 29th. Matrixport released the September market outlook, stating that Bitcoin is currently in a phase where technical and macro factors are intertwined. The rare drop in August and the traditionally poor seasonal performance in September. This month will see key events such as non-farm payroll data, CPI, and the Fed's interest rate meeting, further raising uncertainty. Even if the Fed chooses to cut interest rates, the market may not necessarily see the expected rebound.
Currently, Bitcoin is oscillating in a key range at the boundary between bulls and bears, with most investors choosing to wait and see. The key question to be addressed next is whether this round of volatility is just a period of consolidation or a precursor to a trend reversal. Bitcoin's consolidation phase is expected to continue for another 2-3 weeks until new catalytic factors drive price movements. Since August, Bitcoin has dropped by 3.9%, far below the historical average of a 0.5% increase during the same period. As we enter September, the seasonal factors remain bearish, with four out of the past ten years seeing declines, averaging a 2.5% decrease.
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