Matrixport: Bitcoin is currently at a delicate stage where technical and macro factors are colliding

Jinse Finance reports that Matrixport's daily chart analysis indicates that Bitcoin is currently at a delicate stage where technical and macro factors are colliding. This August has already recorded a rare negative return, and the historical performance in September offers little comfort. A series of key policy dates, including employment data, CPI, and the Federal Reserve meeting, make this month particularly important. However, even if the Federal Reserve cuts interest rates, the market may not see the expected rebound. Meanwhile, Bitcoin is hovering near price levels that have previously marked the boundary between bull and bear markets, adding more suspense to the upcoming trend. The real question is: Is this consolidation just "noise," or is it setting the stage for a move that could catch traders off guard? It is expected that Bitcoin's consolidation phase will continue for another two to three weeks, and only when a truly meaningful catalyst emerges might upward volatility return. In several previous reports, we have already highlighted potential triggers and also pointed out that Bitcoin was "likely to consolidate for one to two months" last month. This view remains valid. So far in August, Bitcoin has fallen by 3.9%, while the historical average return for August is only 0.5%. Seasonal factors also do little to improve the outlook: the historical average decline for September is 2.5%, and in four of the past ten years, September ended with a loss.