TechFlow, June 6 — Matrixport released a report stating that Bitcoin momentum is weakening amid cracks in the U.S. macroeconomic landscape. Bitcoin has pulled back 3%, Ethereum declined 4%, and Solana dropped 11%, confirming a shift in market momentum. Two key economic indicators hit multi-month lows, yet most investors remain focused on ETF capital flows. The ISM Non-Manufacturing PMI unexpectedly fell to its lowest level since July 2024, indicating mild economic contraction. Analysts recommend monitoring oil prices and the U.S. dollar index, warning that tariff policies could reignite inflationary pressures, making the Fed reluctant to cut rates prematurely. Bitcoin would turn bearish if it falls below $96,719. The report suggests that Bitcoin is unlikely to sustain upward movement in an environment where economic data may deteriorate significantly.
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