Matrixport: Bitcoin May Break Through Key Resistance Level, Heading Towards New Trading Range
Powered by ChatGPTOn July 4th, according to Matrix on Target's latest weekly report, although the price of Bitcoin continues to trade sideways in a narrow range, several technical indicators and market data suggest that it may soon break through key trendline resistance and move towards a new trading range.
The report points out that Bitcoin ETFs have attracted approximately $14.0 billion in inflows since April, exceeding the $4.0 billion that can be explained by spot prices, indicating that institutional investors are increasingly recognizing Bitcoin as a long-term allocation asset. At the same time, Bitcoin volatility has fallen to a multi-year low, with weekly implied volatility remaining at only around 30%, lowering the barrier to entry for institutional funds.
From a seasonal performance perspective, July has historically been a strong month for Bitcoin, with seven gains in the past ten years and an average gain of 9.1%. Analysts expect that, supported by external factors such as the Federal Reserve's shift to a dovish policy and positive U.S. stock earnings reports, this rebound may challenge the $116,000 resistance level, and in an optimistic scenario, may extend to $120,000.
It is worth noting that the capital efficiency of the current crypto market is continuing to decline, and full-year inflows in 2025 are expected to be lower than the 2024 high, which means that the capital density required to drive the continued rise in Bitcoin prices has significantly increased, with each $1.0投入 able to leverage only about $2.0 to $2.6 in market cap. [深潮 TechFlow]