Matrixport: If the CPI data exceeds expectations, it may challenge the market's expectation of two rate cuts by the Federal Reserve this year

ChainCatcher message, Matrixport released a daily icon analysis stating that Bitcoin is breaking out of its triangular consolidation pattern. Despite a strong performance during the Asian trading session, sell-offs in Europe and the U.S. offset some of the gains. As long as the price can stay above $116,817, this remains a tradable breakout, with the trend leaning towards the upside.

If the Consumer Price Index (CPI) data exceeds expectations, it may challenge the market's expectation of two rate cuts by the Federal Reserve this year. We believe this challenge is reasonable, but considering the seasonal slowdown, prices may only rise slowly rather than accelerating parabolically. Funds are continuously flowing into the cryptocurrency market through various channels, and patient investors are likely to see returns within this year.