In its latest report dated July 25th, Crypto Finance Firm Matrixport said that Bitcoin may have entered the seasonal revision phase typical of the summer.
Matrixport: Bitcoin enters seasonal fixes, is this an opportunity to buy?
The report shows that the possibility of Bitcoin’s upside has emerged after surpassing the key $109,410 level on July 4th, but recent technical signals suggest that the risk of short-term declines will increase.
In his latest analysis, Matrixport noted that the company’s purchasing season has ended and the market is gradually moving towards profits.
The impact of the “genius” bill and the US policy
Matrixport also evaluated the US government’s “genius” bill that allows it to open a new page on digital asset regulations.
The bill was described as a comprehensive economic strategy aimed at promoting digital dollars, supporting financial debt, and paving the way for a blockchain-based financial system. This development was interpreted as a signal that the US is preparing to adopt a more constructive attitude in the crypto space.
The report said investors are becoming more cautious as the second half of the summer approaches, potentially reducing positions could accelerate. The report predicts that some large investors in particular may resort to profitability, which could put pressure on the market and gradually lower the price of Bitcoin throughout the summer.
According to Matrixport, the Bitcoin struggle of over $122,000 constitutes technical resistance. The agency noted that both technical indicators and institutional influx are weakening, leaving behind a strong element that is lacking in support of upward momentum in the short term.
Conclusion: According to Matrixport’s valuation, the market is currently in the revision phase. However, this can also be viewed as a purchase opportunity for long-term investors. Once the influx of the system is recovering again, Bitcoin will gain new upward momentum.
*This is not investment advice.
