Bitcoin is currently positioned at a critical juncture, where a potential breakout from its narrowing triangle pattern could significantly influence its future price trajectory, according to a recent analysis by Matrixport. The cryptocurrency is facing a pivotal moment; a breakout to the upside could generate positive momentum, whereas a failure to break out might prolong the current price rebound expectations.

The upcoming speech by Federal Reserve Chairman Jerome Powell at the Jackson Hole symposium is anticipated to have a substantial impact on the market. Investors are also closely watching the release of the minutes from the last Federal Open Market Committee (FOMC) meeting, which may deliver dovish signals that could further affect market sentiment.