Matrixport: Despite macro and other risk factors, BTC may still rise

ChainCatcher news, Matrixport released a new report stating that if the Federal Reserve is forced to raise interest rates, the bull market could quickly reverse. However, at least one more inflation report (in a month) is needed to achieve this goal. Macroeconomic risks are expected to persist for a while, but they are only temporary. The Federal Reserve's "wait-and-see" period may last longer than the market expects. Despite the macro risks, it may still be too early to be bearish.

Macroeconomic factors such as rising gold prices may also support Bitcoin prices, as Bitcoin is considered "digital gold." Additionally, it stated that with the potential approval of a Bitcoin spot ETF on the Hong Kong Stock Exchange, this could bring in billions of dollars in funding, with mainland investors utilizing the southbound trading scheme potentially facilitating up to 500 billion RMB in transactions annually. Based on (potential) available capacity, this could bring up to 200 billion HKD in available capacity for the Hong Kong Bitcoin ETF, equivalent to 25 billion USD. This would exceed the inflow of the US Bitcoin spot ETF (12 billion USD) and could become a key upward driver for Bitcoin prices.