Matrixport: If CPI Data Exceeds Expectations, It May Challenge Market Anticipation of Two Fed Rate Cuts This Year

According to a report by Jinse Finance, Matrixport’s daily chart analysis indicates that Bitcoin is breaking out of its triangle consolidation pattern. Although the Asian trading session showed strong performance, some of the gains were offset by selling in Europe and the United States. As long as the price remains above $116,817, this is still a tradable breakout, with the trend leaning toward the upside. If the Consumer Price Index (CPI) data exceeds expectations, it could challenge the market’s anticipation of two Federal Reserve rate cuts this year. We believe such a challenge is reasonable, but given the seasonally weak period, prices are likely to rise slowly rather than accelerate parabolically. Capital continues to flow into the cryptocurrency market through various channels, and patient investors are likely to see returns within this year.