Matrixport: Currency supply indicators suggest that Bitcoin has more room to rise.

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[Matrixport: Currency Supply Indicators Indicate More Rise Potential for Bitcoin] Matrixport released daily chart analysis stating that since November 2023, currency supply indicators have closely aligned with Bitcoin's price movement, reflecting expectations of a weaker dollar and global liquidity expansion. While this correlation is a useful signal, it is more of a proxy for market sentiment rather than a reliable driver. However, it still points to the possibility of further pump for Bitcoin, although history shows it has cyclical characteristics. As the Federal Reserve is expected to cut interest rates, if Powell releases dovish signals and hints at further rate cuts, the dollar may weaken, which will enhance liquidity and support Bitcoin prices.

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