According to ChainCatcher, Matrixport released a research report today saying that Bitcoin prices may experience significant fluctuations. Recently, cryptocurrencies have been fluctuating in a downward channel. Although there were signs of a rebound, their upward momentum may have stagnated. This is just before the Fed's interest rate decision, especially Chairman Powell's guidance on future rate cuts.

Currently, a newly formed triangle pattern has exerted downward pressure on Bitcoin prices. The market focus is on Chairman Powell and his economic outlook, as his speech is likely to affect the next move of the market. Bitcoin has increasingly evolved into a macro asset that reflects overall economic trends.