Matrixport: Bitcoin is in a delicate phase where technical and macro factors are colliding.

[Matrixport: Bitcoin is in a delicate phase where technical and macro factors collide] Matrixport released its daily chart analysis stating that Bitcoin is in a delicate phase where technical and macro factors collide. In August this year, it recorded a rare negative return, and the historical performance in September is also unlikely to provide comfort. A series of key policy dates, including employment data, CPI, and the Fed meeting, make this month particularly important. However, even if the Fed cuts interest rates, the market may not necessarily welcome the expected rebound. Meanwhile, Bitcoin is hovering around price levels that previously demarcated the boundary between bull and bear markets, adding suspense to the upcoming trend. The real question is: is this consolidation just "noise," or is it paving the way for a potential market movement that could catch traders off guard? Bitcoin's consolidation phase is expected to last another two to three weeks, until a truly meaningful catalyst emerges, which may reintroduce upward volatility. In several previous reports, we have emphasized potential triggering factors and noted that Bitcoin was "expected to consolidate for one to two months" last month. This viewpoint still holds. So far in August, Bitcoin has fallen 3.9%, while the historical average return for August is only 0.5%. Seasonal factors are also unlikely to improve the outlook: the historical average decline for September is 2.5%, and in the past decade, there were four years that ultimately closed lower.