Bitcoin has broken new records in the last two days, but there is growing expectations in the market that the rise will continue to reach a higher level.
The most recent analysis in this regard comes from the Crypto Services Provider Matrixport. In the latest analysis conducted on the X account, Matrixport argued that Bitcoin’s gatherings are not over yet and that the expected base catalysts have not yet been considered.
The rise of Bitcoin is not over!
Matrixport analysts noted that Bitcoin has reached a new record, but unlike previous surges, this occurred with minimal leverage and limited retail purchases.
Analysts added that the recent increase has been driven by strong spot ETF inflows and increased institutional demand, and that the key catalysts, including increased political pressure on the Fed to reduce interest rates, the potential passage of genius acts, and the historically strong seasonality of July, are not yet priced.
“This Bitcoin rally is supported by a strong institutional buying momentum and a strong ETF influx, distinguishing recent rally from past highs.
Open interest in Bitcoin is slowly increasing, but there are no significant new leveraged long positions yet.
At this point, this increase should be viewed as a structural upward trend rather than a speculation. ”
Matrixport last said that Bitcoin is likely to maintain its upward momentum, listing events that could cause a rise.
“If seasonal strength and Bitcoin ETF inflow continue in July, the rally can continue.
The upward momentum is expected to continue as the U.S. House of Representatives announces legislative progress as part of its “Crypto Week,” which begins on the 14th.
At this point, key variables such as the Fed’s interest rate policy, the schedule for the release of the Consumer Price Index (CPI) for the next week, and the genius law, are not yet priced. ”
*This is not investment advice.
