The report states that the latest rate hike by the Federal Reserve may be the last rate hike of the current cycle, which may prepare for another strong rebound in the market.Cryptographic service provider Matrixport stated in a research report on Thursday that Bitcoin (BTC) may rise by 20% to around $35000 to $36000
The report states that the latest rate hike by the Federal Reserve may be the last rate hike of the current cycle, which may prepare for another strong rebound in the market.
Cryptographic service provider Matrixport stated in a research report on Thursday that Bitcoin (BTC) may rise by 20% to around $35000 to $36000.
The report states that Bitcoin has been trading in a shrinking wedge that is about to be breached upwards, and adds that technically, this may indicate an increase of approximately 20%, equal to the magnitude of the wedge's formation
Matrixport stated that although the Federal Reserve raised interest rates by another 25 basis points yesterday, it is highly likely that this will be the last rate hike of the current cycle. This may prepare the market for another strong rebound.
Research director Markus Thielen wrote that after the end of the recent financial reporting season, stock repurchases are now resuming, which will "continue to be a common tailwind for stocks and risky assets".
The report states that Bitcoin trading volume may have declined recently, but "the resistance to rising is limited".
Due to the strong number of active addresses on the Bitcoin network, approaching 1 million addresses, the transaction volume on the Bitcoin network has reached a historic high, "the note added.
The report adds that with the active trading of meme coins, crypto sentiment has significantly improved.
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