Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
Bitcoin Rally May Stall Before Next Move, Says Matrixport

Bitcoin Rally May Stall Before Next Move, Says Matrixport

Coindoo2025/07/29 23:00
By: Coindoo
BTC+0.21%RSR+0.66%RLY0.00%
Bitcoin Rally May Stall Before Next Move, Says Matrixport image 0

Bitcoin may be heading into a temporary cooldown, according to crypto financial services firm Matrixport.

In its latest report, the company suggests that a short-term correction could be brewing—even as broader economic signals remain supportive of risk assets.

Matrixport’s analysts point to waning momentum in technical indicators, noting that Bitcoin’s recent rally has pushed the RSI into overbought territory. With the price now hovering near $120,000, they suggest a retracement toward the $106,000–$108,000 zone could form the base for the next leg higher.

While the firm sees $122,000 as a reasonable short-term target, they argue that the market needs to “reset” before attempting another breakout. A correction, they say, wouldn’t break the broader uptrend that began at $16,000 nearly 18 months ago.

Falling U.S. inflation and growing expectations for a Federal Reserve rate cut have been positive tailwinds for crypto, but Matrixport cautions that overly bullish sentiment could lead to volatility . A stronger signal from the Fed may come as soon as the July 30 FOMC meeting, though September remains the more likely pivot point.

Despite the short-term caution, Matrixport emphasizes that the long-term bullish structure remains intact, though traders should be wary of potential double-top formations following steep rallies.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Trending news

More
1
Bitcoin repeats May breakout move as analysis expects $118K showdown
2
Chainlink sees best performance since 2021 as cup-and-handle targets $100 LINK

Crypto prices

More
Bitcoin
Bitcoin
BTC
$117,142.24
+0.34%
Ethereum
Ethereum
ETH
$4,593.27
-0.13%
XRP
XRP
XRP
$3.08
-0.36%
Tether USDt
Tether USDt
USDT
$1
-0.00%
BNB
BNB
BNB
$984.43
-0.37%
Solana
Solana
SOL
$247.35
+0.85%
USDC
USDC
USDC
$0.9997
-0.01%
Dogecoin
Dogecoin
DOGE
$0.2783
-1.69%
TRON
TRON
TRX
$0.3509
+2.04%
Cardano
Cardano
ADA
$0.9241
+1.61%
How to sell PI
Bitget lists PI – Buy or sell PI quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter