Matrixport: Macroeconomic Factors Could Slow Bitcoin's Upward Movement, Is It Bad News?

Bittime - The latest report from Matrixport, a leading crypto financial platform, says adverse macroeconomic factors have the potential to delay Bitcoin's upward movement. High inflation pressure is considered to be a tough challenge that must be faced. 

Crypto investors need to be patient as macroeconomic factors are expected to change slowly.

The Important Role of Economic Data

According to Matrixport, attention needs to be paid to Federal Reserve Chairman Jerome Powell's monthly or bi-monthly speech, as well as monthly inflation data. This information can help Bitcoin investors regain confidence in the recovery of the uptrend.

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Decreasing Liquidity Supporting Factors

In line with their report a few weeks ago, Matrixport again highlighted a slowdown in key liquidity supporting factors, such as the growth of stablecoins and inflows of US-listed Bitcoin ETFs. 

ETF inflows, which had peaked on March 12, have recently experienced four consecutive days of net withdrawals (net outflow).

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Optimism Remains

Despite this, Matrixport still believes that Bitcoin's uptrend will recover. However, this trend may experience a decline first before forming a new upward pattern again.

Conclusion

This Matrixport report provides a warning for crypto investors to be aware of macroeconomic factors that can influence Bitcoin prices. Investors need to be patient and careful in making investment decisions, and pay attention to the latest economic data to get a clearer picture of Bitcoin's long-term trends.

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How to Buy Bitcoin (BTC) on Bittime

You can buy and sell  Bitcoin (BTC)  in an easy and safe way via  Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

Bitcoin (BTC) is available on Bittime with market pairs BTC/IDR and BTC/USDT. To be able to buy BTC USDT and BTC IDR at Bittime, make sure you have registered and completed identity verification.

Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn  the complete guide on how to buy Bitcoin (BTC) on Bittime . 

Monitor price  chart movements of Bitcoin (BTC ) ,  Ethereum (ETH) ,  Solana (SOL)  and other cryptos to find out today's crypto market trends in real-time on Bittime. 

Also read:

Fed Prediction: Crypto Market Potential to Experience a Dump After Bitcoin Halving

Why Does Israel and Iran's War Impact the Crypto Market?

Bitcoin Spot ETF Experiences 5th Consecutive Day of Outflows

DISCLAIMER:  This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.