Matrixport: Bitcoin Hits New All-Time High Supported by Multiple Catalysts, Extremely Bullish Macro Environment

BlockBeats News, July 14th. Matrixport released a daily analysis stating that on July 1st it had predicted that Bitcoin was expected to rise to $117,244, supported by a strong seasonal trend in July. While many had originally expected this summer to be relatively calm, data shows that Bitcoin is likely to break its all-time high.

Historically, Bitcoin has seen an average increase of 9.1% in July, with 7 out of the past 10 July's recording positive returns. This time, there are several strong catalytic factors driving the market: 1. The U.S. stock market hitting an all-time high; 2. Trump increasing pressure on the Federal Reserve; 3. Passage of the "Big and Beautiful Bill," raising the debt ceiling.

All of this has created an extremely bullish macro environment for Bitcoin. Whether this uptrend still has more room to grow will be further discussed in the future—so far, the trend aligns perfectly with the previous prediction.