On August 1st, Matrixport released a latest report indicating that the core catalyst for Bitcoin's new round of price increase is gradually emerging. Although Ethereum has frequent 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%, showing that market enthusiasm has not been fully released.
The report 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, there is a lack of short-term policy catalysts, and the market may turn to a wait-and-see mode, entering a consolidation phase.
Additionally, the uncertainty in US fiscal policy remains the core driving force for hard asset appreciation. The recent debt ceiling expansion plan proposed by Trump, amounting to $5 trillion, has already caused the US debt balance to surge by over 10%. As a hedging tool, Bitcoin is benefiting from this macroeconomic change, and its subsequent trend still requires attention to changes in capital flows.
