Matrixport: Bitcoin encounters resistance at the key pressure level of $92,000, with upward momentum significantly slowing down

Matrixport released a daily analysis indicating that the Bitcoin price encountered resistance at the key level of $92,000, with upward momentum significantly slowing down.

Although the market generally expects the Federal Reserve to initiate interest rate cuts next week, related ETFs have only seen a slight net inflow, with overall funding remaining weak. At the same time, signals of tightening Japanese monetary policy have heightened market unease, with the 2-year Japanese government bond yield surpassing 1% for the first time since 2008, prompting investors to reassess the consistency of major global central banks' easing measures. Analysts believe that even if the Federal Reserve signals a dovish stance, it will be difficult to offset tightening expectations from other economies, resulting in an overall policy environment that remains tight, leading institutional investors to continue reducing their Bitcoin exposure.