According to ChainCatcher, Matrixport's latest report indicates that the core catalysts for Bitcoin's new round of price increase are gradually emerging. Although Ethereum has multiple positive signals (such as ETF fund inflows, increasing institutional allocation, and potential SEC approval of staking mechanisms), the funding rate has only risen to 15%, suggesting that market enthusiasm has not been fully released.
The report also points out that August and September have historically been relatively weak months for Bitcoin's annual performance. With the latest FOMC meeting concluded and the next meeting scheduled for September 17th, the short-term policy catalysts are lacking, and the market may enter a wait-and-see phase with sideways consolidation.
Additionally, Matrixport mentioned that U.S. fiscal uncertainty remains the core driving force for hard asset appreciation. Trump's recently proposed $50 trillion debt ceiling expansion plan has already caused the U.S. debt balance to surge by over 10%. As a hedging tool, Bitcoin is benefiting from this macroeconomic change, and its future trend will depend on observing changes in capital flows.
