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The deal uses SGB's regulated banking system to efficiently settle cross-border transactions for over-the-counter trading clients.
This connection provides institutions with faster access to funds and greater transparency during large-volume trading operations.

Desite Bitcoin’s strong bullish momentum in recent weeks, crypto finance firm Matrixport is sounding a cautious note. In its latest “Matrix on Target” report, the firm suggests that BTC may face a short-term correction — even as broader macroeconomic conditions remain favorable.

📉 Short-Term Correction Ahead?

Matrixport analysts note that although BTC $BTC
has climbed steadily from $16,000 over the past 18 months, several key indicators now suggest a pause or pullback may be imminent.

🔹 Support Range: $106,000–$108,000

🔹 Target Resistance: $122,000

🔹 Timeframe: Possible consolidation in the next 1–2 months

While the long-term trend remains intact, the report highlights that technical momentum is weakening, pointing toward a healthy cooling-off phase before any attempt to break above $122,000.

⚠️ RSI Signals Overbought Territory

Technically speaking, Bitcoin is showing signs of being overbought:

The Relative Strength Index (RSI) has climbed above 70 — often a red flag for short-term corrections.

Matrixport suggests that a pullback to the $106K–$108K zone could act as a springboard for the next leg up.

This correction, they argue, would be part of a healthy market cycle, rather than the end of the bull run.

🏦 Macroeconomic Winds Are Favorable — For Now

The firm also acknowledges that U.S. macroeconomic conditions remain supportive:

June inflation fell to 2.8%, below expectations

Hopes are rising for a Federal Reserve rate cut

While these developments are buoying investor sentiment, Matrixport cautions that “over-optimism” could introduce downside risk, especially if the Fed delays action.

🗓️ The July 30 FOMC meeting could bring signals, but September remains the more realistic window for an actual rate cut.

⚡ Watch for Technical Patterns: Blow-Off Tops & Double Tops?

The report concludes with a warning: rapid price spikes can lead to classic technical traps, such as:

Blow-off tops — sharp highs followed by rapid declines

Double tops — potential reversal formations that can signal trend exhaustion

🔍 Final Take

While Matrixport believes Bitcoin’s long-term bullish structure remains solid, short-term caution is warranted. A correction could set the stage for stronger gains — but only if support at $106K holds.

📢 What do you think? Will BTC pull back before pushing to $122K? Or are bulls ready to break through resistance?

#bitcoin #Matrixport #CryptoNewss #Binance

While the market discusses: "Is there a redistribution starting in altcoins?", Matrixport analysts state directly:
👉 Yes, Bitcoin can conquer new price horizons — but only if it maintains its "exclusive liquidity inflow channels" unavailable to altcoins.

And here is one of those channels — the wave of IPOs of crypto companies in 2025. 💼