Matrixport: The market generally expects Bitcoin to break through its historical high, and the trend is likely to continue into the summer.

2025-05-16 07:44:51

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Odaily News Matrixport released a weekly report stating that Bitcoin has rebounded to the upper range of the fluctuation zone (106,000 USD). With multiple favourable information catalysts driving the market, there is widespread expectation that it may break through its historical high. As the phased downward risk eases, the upward path for Bitcoin’s price becomes increasingly clear. Recently, Trump’s focus has shifted to announcing investment and trading cooperation, further boosting market optimism towards the stock market and Bitcoin. If the tax reduction policy from the Trump era continues, coupled with potential regulatory easing measures, it may further enhance market expectations for economic growth, leading to a reassessment of growth prospects and a repricing of bond yields.

In the current context, risky assets, especially Bitcoin, are expected to welcome a favourable trading window before July. This period coincides with the end of the 90-day tariff truce agreement, the start of the second quarter earnings season, and the peak height of the liquidity indicators we are tracking. Another important catalytic factor is the upcoming debt repayment process of FTX, which is expected to start around May 30, 2025, for accounts with debt amounts exceeding $50,000. This round of repayment is expected to distribute about $5 billion in stablecoins, a significant portion of which may flow back into the crypto market. This added liquidity could drive market momentum in June, resonating with the continued inflow of funds into Bitcoin ETFs and the active trading of stablecoins.

Since mid-April, when Bitcoin broke through the technical threshold of 84,500 USD, it has maintained a constructive bullish view. Although Bitcoin has risen by about 20,000 USD (approximately 25%), we still believe that the upward momentum is not exhausted, and the market is expected to continue into the summer.

BTC0.82%

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