Matrixport: If Powell signals a dovish stance and hints at further easing, Bitcoin prices will find support

ChainCatcher news, Matrixport released today's chart stating that since November 2023, the money supply has been highly synchronized with Bitcoin's trend, indicating a growing expectation of global liquidity expansion against the backdrop of a weakening dollar. This synchronization is more driven by market sentiment rather than causal factors.

Although the indicators still point to an upward trend for Bitcoin, their cyclical nature has limited reference value. This signal remains consistent with our overall bullish judgment. As the market anticipates a rate cut from the Federal Reserve, if Powell sends a dovish signal and hints at further easing, the dollar is likely to weaken, which will enhance liquidity and provide support for Bitcoin's price.