According to BlockBeats, on July 29, 10x Research shared an analysis on social media indicating that Bitcoin's returns tend to stabilize in August and decline in September based on historical data. However, favorable U.S. interest rate policies, declining rates, and the election schedule might mitigate any downward pressure from the $1 billion token unlock in August. Bitcoin's dominance is reaching new highs this cycle, having a significant impact.
The analysis suggests that Bitcoin is expected to eventually reach new highs, but it may require 'macro' assistance. The Federal Reserve's interest rate decision on August 1 and the Consumer Price Index (CPI) report on August 14 will be crucial.