Online reports that Matrixport released today's chart saying,"In the past few weeks, we have repeatedly warned in Matrixon Target and daily updates that Bitcoin is approaching the key technical support level of US$112,000. Now, this support has been broken and market sentiment has begun to change. Although there are still many bullish views, our previous cautious stance has gradually been verified. This round of decline, on the one hand, continued the seasonal weakness common in August, and on the other hand, was also affected by the macro uncertainty caused by the downward revision of labor market data. A similar situation occurred in the same period last year, when the Federal Reserve unexpectedly chose to cut interest rates by 50 basis points due to market pressure. Given that the market has taken into account two interest rate cuts and the first cut is expected to be implemented as early as September, we still maintain our previous expectations: Risk assets may still remain weak until economic and market fundamentals improve."