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Matrixport: Bitcoin Returns to All-Time High, Breakthrough Still Await New Macro Catalyst

4 hours ago

July 8th: Matrixport put out its daily analysis indicating that Bitcoin returned to a high level, but the momentum of minting stablecoins continues to wane. The absence of new liquidity being injected into the market may be a crucial reason why Bitcoin has not been able to achieve a significant breakthrough. Judging from on-chain data, the amount of new capital flowing into the market remains restricted. Given that summer is already a period of low trading activity, breaking the current pattern still demands new macro catalysts to drive it. In this situation, Matrixport considers that bullish investors may think about hedging potential risks by selling call options. Although there is still room for a gradual price increase, the probability of a rapid surge in the short term is low.
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