Matrixport: Bitcoin Rally Restrained Due to Funding and Seasonal Factors

BlockBeats News, August 26th, Matrixport released its daily chart analysis, stating, "Most institutional funds have exited the summer, but Ethereum still attracts inflows, while Bitcoin ETF may see net outflows for the fifth consecutive month. This month's outflow is estimated to be about $1.2 billion, the second highest in history, only behind February's $3.5 billion. Seasonal factors may be temporary, but they remind us: Fund flows are equally important as seasonality."

"After maintaining a bullish stance in July, we turned cautious in August. Although macro and liquidity factors may still support Bitcoin, the current market still needs to remain vigilant."