Odaily News Matrixport released today's chart saying that Bitcoin has successfully broken out of the short-term downtrend and formed a typical bullish "converging triangle breakout" pattern, which usually indicates trend continuation. Although we previously expected the market to stabilize in the summer, this round of strong upward momentum shows that new funds are actively chasing the market and tariff concerns have gradually faded.
Although the CPI data released this week may bring some upward pressure, it is not expected to affect the current market momentum. At the same time, the market is lowering expectations for interest rate cuts this year: given that the US economy has shown unexpected resilience, there may only be one rate cut this year. As long as Bitcoin can hold $105,075, the bullish trend will remain unchanged.