Bitcoin wan balance before Fed, CPI and NFP data
Matrixport September Bitcoin outlook dey predict say e go dey consolidate for about 2 to 3 weeks cos market dey ready for big macroeconomic tins wey go happen. Bitcoin don drop 3.9% since August, wey no too good compared to di usual average gain wey be 0.5%. Seasonal wahala still dey cause palava, because past Septembers for four out of ten years don show average 2.5% drop. Di report talk say Federal Reserve rate decision, US CPI and non-farm payrolls (NFP) data na di main tins wey dey cause market wahala. Trading still dey one critical range wey separate those wey dey feel say market go rise and those wey no dey. E make plenty traders to siddon wait and see. Matrixport believe say true trend change go need new catalyst. Di Bitcoin outlook talk say make pipo manage their position well and dey active for risk management to fit waka through short-term shakiness and market wahala weh fit waka sharp sharp.
Neutral
Matrixport tok say Bitcoin dey inside consolidation phase as traders dey wait for big macro releases. Historically, before data land, uncertainty dey usually make market dey range-bound. For example, before Fed June decision and July CPI drop, Bitcoin show similar sideways movement. The 3.9% drop for August versus historical 0.5% gain show say e dey more sensitive to macro data. For short term, this one mean say no strong direction go dey until NFP, CPI, and Fed meeting drop new catalysts. Traders fit see choppy price moves and spread go widen. For long term, disciplined risk management fit help investors position well to benefit from volatility spikes after data come. Overall, to expect consolidation rather than clear trend changes mean market sentiment go stay neutral, no clear bullish momentum or bearish capitulation go dominate till fresh data show.