Matrixport: Bitcoin may experience significant volatility after the Federal Reserve's decision

ChainCatcher news, Matrixport released today's research report stating that Bitcoin prices may face significant volatility. Recently, cryptocurrencies have been fluctuating within a downward channel, and although there were signs of a rebound at one point, the upward momentum may have stalled. This comes just before the Federal Reserve's interest rate decision, especially with Chairman Powell's guidance on future rate cuts being closely watched.

Currently, a newly formed triangular pattern is exerting downward pressure on Bitcoin prices. Market focus is on Chairman Powell and his economic outlook, as his speech is likely to influence the next steps in the market. Bitcoin has increasingly evolved into a macro asset that reflects overall economic trends.