Matrixport: Bitcoin breaks out of short-term downtrend, new capital influx drives continued upward momentum

"Bitcoin has broken out of its short-term downtrend, signaling a bullish breakout from the finishing triangle, a pattern typically associated with a continuation of the trend," said Matrixport's Daily Icon analysis. "While we initially expected a calmer summer, the strength of the rally suggests that new money is chasing up, while tariff-related concerns are fading. Even if this week's CPI data is expected to bring some upward pressure, it is unlikely to interrupt the current upward momentum. At the same time, market expectations for interest rate cuts this year are also lowering, and only one rate cut is currently forecast, as the U.S. economy has performed more resiliently than expected. As long as the bitcoin price remains above $105,075, the overall upward trend remains valid."