Goldfin.com reports that Matrixport released a research report today indicating that Bitcoin's price is likely to experience significant volatility.

Recently, cryptocurrency has been fluctuating within a descending channel. While signs of a rebound emerged initially, its upward momentum appears to have stalled. This comes just before the Federal Reserve's interest rate decision, with particular focus on Chairman Powell's guidance regarding future rate cuts.

Currently, a newly formed triangle pattern is exerting downward pressure on the Bitcoin price. The market's focus is on Chairman Powell and his economic outlook, as his speech will likely influence the market's next move. Bitcoin has increasingly become a macro asset reflecting overall economic trends.