PANews reports on April 25th that Matrixport's latest weekly report indicates that Bitcoin's price has risen to $93,653, breaking through and stabilizing above the 21-week moving average, which is an important technical indicator for determining market trend. The report suggests that despite the macroeconomic environment not yet fully returning to normal, there are still opportunities for moderate growth in the US stock market, providing support for risk assets including Bitcoin.
Bitcoin recently broke through the 23.6% Fibonacci retracement level of $87,045, providing investors with a positive trading signal and can be considered a reasonable stop-loss point for long positions. Although the summer market typically shows range-bound fluctuations, Bitcoin still has upward potential, especially with gold's recent strong performance further strengthening the case for Bitcoin allocation. The report emphasizes that global US dollar asset holders are seeking asset diversification and reducing dependence on the US dollar, a process expected to continue for several years.
