Matrixport: BTC momentum is weakening, and cracks are appearing in the US macroeconomy

ChainCatcher news, Matrixport released a report stating that BTC momentum is weakening, while cracks are appearing in the U.S. macroeconomy. Bitcoin has retraced by 3%, Ethereum is down 4%, and Solana has dropped 11%, confirming a shift in market momentum. Two key economic indicators have hit multi-month lows, but most investors are still focused on ETF fund flows. The ISM Non-Manufacturing PMI unexpectedly fell to its lowest level since July 2024, indicating slight economic contraction.

Analysts suggest paying attention to oil prices and the dollar index, warning that tariff policies could reignite inflationary pressures, making the Federal Reserve reluctant to cut interest rates too early. If Bitcoin falls below $96,719, it will turn bearish. The report believes that in an environment where economic data may significantly deteriorate, Bitcoin is unlikely to sustain its upward trend.