TechFlow, December 12 — Matrixport released its weekly report stating, "The latest FOMC meeting cut rates as expected, but the forward guidance did not provide a clear direction for future policy, increasing market uncertainty about the pace ahead. However, from interest rates and asset price performance, these uncertainties are still only partially reflected in current prices. Powell's somewhat wavering tone, combined with early signs of a weakening labor market, suggests that the current macro environment has significantly changed from the beginning of the year.
Against this backdrop, Bitcoin has fallen below a key long-term trend level for the first time during this bull cycle, echoing market patterns seen in previous mid-term election years.
Despite frequent recent speculation about the Fed restarting balance sheet expansion, overall liquidity in crypto remains tight, and retail trading activity has not shown significant recovery. Meanwhile, the impact of political factors on market sentiment and trading behavior may not yet be fully priced in. With multiple forces interacting, the market is shifting from a single-trend move to a more complex phase. At this stage, position management and risk control become significantly more important. As we indicated in our report on October 31, 2025, even if the current market is not classified as bearish, this consolidation phase is likely to persist."
