PANews reported on July 28 that Matrixport analysis pointed out that a month ago, based on the seasonal analysis of the counter-trend, Bitcoin was expected to rise to $116,000, and this judgment has been verified by the market.

The current market sentiment is gradually turning optimistic. This week will usher in multiple key events such as the intensive disclosure of US stock earnings reports, the postponement of the White House digital asset report, and the Federal Reserve's interest rate decision, which may become a new catalyst for market volatility. However, from historical data, August and September are usually weaker months for Bitcoin. The average return rate in August in the past decade was close to zero, and only three years recorded an increase. Analysts believe that many traders tend to lock in profits at this stage. Although bullish expectations for the year remain, the short-term market may enter a tactical consolidation period due to seasonal disturbances.