[Matrixport: Bitcoin Breaks Key Trend Level, Consolidation Phase Likely to Continue]
Matrixport released a report stating that the FOMC meeting results were in line with expectations, but the dot plot guidance was unclear, and Powell's remarks were cautious as signs of weakness emerge in the labor market. Against this backdrop, Bitcoin has broken below a key long-term trend level for the first time in this bull market, with its price movement resembling patterns seen around previous midterm elections. Although discussions about the Federal Reserve restarting balance sheet expansion are heating up, liquidity in the crypto market remains tight, and retail trading activity has not recovered. Matrixport believes the market is transitioning into a complex structure, and there is still a high probability that the current consolidation phase will continue.