TechFlow reported that Matrixport has released a new report stating it is still too early to buy the dip on Bitcoin. Since last week's Matrix on Target warning that Bitcoin could see a deeper correction, the price of Bitcoin has dropped by 10%.
The report noted that historically, Bitcoin tends to trade sideways for four to five months following a halving event. Based on its interpretation of macroeconomic data, the firm maintains a cautious outlook on Bitcoin and expects a significant market adjustment.
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