Matrixport: Key US employment data to be released this week, Bitcoin is at a critical technical juncture

ChainCatcher news, Matrixport released today’s chart stating, “Bitcoin has fallen back to the breakout range of $106,000 - $108,000. In the latest issue of ‘MatrixonTarget’ report, we have adopted a more conservative stance, pointing out that this round of correction may still continue. Seasonal weakness has been evident since the end of July, and stage pressure is accumulating. This week, US employment data will be released, and Bitcoin is at a critical technical juncture. If the price drops further, it may surprise most traders, but this risk cannot be ignored. Historical experience shows that rate cuts are often seen as positive for the crypto market, but they are often accompanied by volatility.”