ChainCatcher news, 10x Research said in a report that concerns persist due to oversupply and lack of solid market fundamentals, which poses potential risks to medium-term traders. Last week, Bitcoin appeared to have rebounded from oversold levels before the release of the Consumer Price Index (CPI), which was expected to fall.

However, because this expectation was well known and Bitcoin had already risen, the price could not be sustained. This downward inflation trend is likely to continue until October, when the year-on-year data will be more challenging. Although the Bitcoin price experienced a correction of nearly 20% at its lowest point during the sale of $3 billion worth of Bitcoin in Saxony, it has withstood this test. However, a larger sell-off is expected in the coming weeks and months, which may further affect the market.