Matrixport: Bitcoin's macro shift is expected to fuel the next rally
Matrixport released a weekly report saying that the bitcoin market may face a major turning point. Although some traders still rely on inventory flows to rebound faster than model predictions, the agency recommends the use of more sophisticated macro quantitative tools to predict the trend of bitcoin and the timing of major fluctuations. The report believes that with macroeconomic changes, bitcoin and the entire market may enter a period of high volatility.
The financial marekt appears calm, but gold, oil, Treasuries and the dollar are all close to breaking through support, suggesting a major turning point may be imminent. This situation points to the possibility of a major macroeconomic change, the impact of which may be fully felt in a few months. Given the forward-looking nature of the financial marekt, these changes could trigger a more significant trend shift.
Markets will also be influenced by the US election. The sustainability of some of the presidential candidates' policy proposals is in doubt, and the market is forecasting the winner while also expressing concern about the risk of rapidly rising debt levels. The interplay of these factors will shape future trends, and changes in relevant indicators need to be closely watched.
The report also points out that when rising bond yields coincide with a rally in gold prices, it usually indicates that the economy is in a unique and contradictory environment, and bitcoin is likely to be the main beneficiary asset.