Matrixport Suggests Possible Bitcoin Consolidation Amid Seasonal and Macroeconomic Factors

Key Points

1. August and September have historically been weak months for Bitcoin, with only three years recording positive returns in August and two in September.

2. Bitcoin's current price is $115,049.43 with a market cap of $2.29 trillion, showing a 7.24% gain over the past month despite a 3.05% drop in the last 24 hours.

3. Increased profit-taking by investors and shifts toward stablecoins during these months often dampen Bitcoin's price momentum.

4. U.S. fiscal policy changes and macroeconomic uncertainty may further contribute to Bitcoin's consolidation phase.

5. The 24-hour trading volume of $78.13 billion reflects active market participation, but seasonal trends suggest caution.