Analysis: Bitcoin may struggle to sustain its rally for now, but a break below $96,719 will turn bearish
PANews reported on June 6 that Matrixport pointed out that despite the recent weakening of Bitcoin's price action, its trend model still maintains a bullish stance. Only when Bitcoin falls below $96,719 will it turn bearish.
In addition, Matrixport believes that the knock-on effect of tariff policy could exacerbate the deterioration of economic data and have a knock-on on market sentiment. In the current environment, it may be difficult for Bitcoin to sustain its sustained rally, and the Fed is unlikely to cut interest rates in the near term.
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