Matrixport September Outlook: Bitcoin Consolidation Expected to Continue for 2-3 Weeks Until New Catalyst Drives Price Movement

August 29th. Matrixport presented the September market outlook, indicating that Bitcoin is currently in a stage where technical and macro factors are intermingled. The rare decline in August and the typically poor seasonal performance in September. This month will witness key events such as non-farm payroll data, CPI, and the Fed's interest rate meeting, which further increase uncertainty. Even if the Fed decides to cut interest rates, the market may not necessarily witness the expected rebound. Currently, Bitcoin is fluctuating in a crucial range at the boundary between the bullish and bearish sides, and most investors are choosing to wait and see. The key issue to be addressed next is whether this round of volatility is merely a period of consolidation or a precursor to a trend reversal. Bitcoin's consolidation phase is expected to continue for another 2-3 weeks until new catalytic factors drive price movements. Since August, Bitcoin has dropped by 3.9%, which is significantly lower than the historical average increase of 0.5% during the same period. As we enter September, the seasonal factors still have a bearish influence, as in four out of the past ten years, there have been declines, with an average decrease of 2.5%.