Matrixport Co-Founder Says Crypto Market Mirrors Early June: What This Means

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Matrixport Co-Founder Says Crypto Market Mirrors Early June: What This Means - NewsBTC

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He emphasized the impact of summer energy prices on inflation metrics, noting that rising crude oil and gas prices since early June are likely to influence both headline CPI and PCE directly, and core inflation numbers indirectly.“A 0.3% MoM Core CPI expectation is already bad, imagine it realizes worse,” he remarked, underscoring the potential for these figures to exceed expectations to the upside, further complicating the Fed’s inflation management efforts.

Yan’s analysis began with an overview of the current market recovery, noting that both BTC and SOL are “grinding at key technical levels nicely now,” suggesting a potential setup for a breakout similar to the situation in early June.

Bitcoin Breakout Needs Confirmation Matrixport released a “Chart of the Day” featuring Bitcoin’s price movements from June 2 to July 1, highlighting the cryptocurrency’s recent break from a short-term downtrend.