PANews reported on April 25 that Matrixport's latest weekly report pointed out that the price of Bitcoin has risen to $93,653, breaking through and running steadily above the 21-week moving average, which is an important technical indicator for judging the market's long and short trends. The report believes that although the macro environment has not yet fully returned to normal, the opportunity for a moderate upward movement in the US stock market still exists, providing support for risky assets including Bitcoin.

Bitcoin recently broke through the 23.6% Fibonacci retracement level of $87,045, providing investors with positive operational signals, which can now be regarded as a reasonable stop loss for long positions. Although the summer market is usually range-bound, Bitcoin still has upside potential, especially the recent strong performance of gold further strengthens the reason for allocating Bitcoin. The report emphasizes that global holders of US dollar assets are seeking to diversify their assets and reduce their dependence on the US dollar, and this process is expected to continue for several years.