CoinVoice has recently learned that Matrixport stated in the latest issue (Matrix on Target Weekly Report) that the results of the latest FOMC meeting are largely in line with market expectations, but the dot plot did not provide clear guidance on the subsequent policy path, instead increasing market uncertainty about future rhythms. However, from the performance of interest rates and asset prices, the reflection of these uncertainties in current prices remains relatively limited. Powell's statements are cautious, coupled with early signs of weakening in the labor market, indicating that the current macro environment is different from the beginning of the year. The report pointed out that against this backdrop, Bitcoin has for the first time fallen below key long-term trend lines in this bull market, and its price movement resembles the market rhythms seen in previous years around mid-term elections. Although discussions about the 'Federal Reserve restarting balance sheet expansion' have intensified recently, overall liquidity in the crypto market remains tight, retail trading activity has not yet shown a significant rebound, and the impact of political factors on market sentiment and trading behavior may not have been fully priced in. Matrixport believes that under the intertwining of multiple factors, the market is transitioning from a single trend to a more complex structure. In this stage, the importance of position management and risk control has significantly increased. The report maintains the previous judgment that even if the current market condition is not defined as a bear market, there is still a high probability that this consolidation phase will continue. [Original link]
