10X Research's latest report: Is Bitcoin breaking through? Key events and market dynamics analysis

远山洞见2024/07/29 06:26

According to a 10x Research report, bitcoin usually generates flat returns in August and decreases in September. Despite the downward pressure on the $1 billion token unlock in August, the US interest rate policy, lower inflation and election schedule may ease this pressure.

Bitcoin's rise requires the help of macroeconomic factors. The FOMC meeting on July 31st and the US CPI report on August 14th will be critical moments. Bitcoin's dominant position has increased to 55.5%, the highest since April 2021, and has been in a downward trend since March. If it breaks through 69,000, it may accelerate its rise. Bitcoin spot ETFs are gradually increasing, but the market structure is weak and stablecoin minting is low. Presidential candidate comments have limited impact on Bitcoin, but political support is a positive signal.

The report finally reminds us to pay attention to multiple major token unlocks and market trends, and lists them one by one.

For more information, see the latest research report from 10x Research: https://www.bitget.com/news/detail/12560604123835

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.