Matrixport: Bitcoin’s July Rally Was Foreseeable, Current Uptrend Driven by Multiple Macro Factors

According to a report by Jinse Finance, Matrixport's daily chart analysis states, "At the beginning of July, we pointed out that Bitcoin could potentially rise to $117,244, supported by seasonal factors. Although the market held cautious expectations for summer performance, data trends had already shown signs of a breakout, which ultimately drove the price to a new all-time high. Looking back over the past decade, Bitcoin has closed higher in July seven times, with an average increase of 9.1%. The current upward trend is being driven by multiple macro factors: the continued strength of U.S. equities boosting market confidence, ongoing pressure from Trump on the Federal Reserve, and the approval of the so-called 'Big Beautiful Bill!' to raise the fiscal deficit ceiling, which has heightened expectations for increased liquidity. As for whether there is further upside potential, we will continue to monitor this in subsequent reports. Based on current market performance, our previous predictions are gradually being confirmed."