This 10x analyst gets slapped in the face every day, but he still continues to analyze and predict as if nothing happened. He is really invincible.
10x Research: Bitcoin may usher in a major shift in the $60,000 to $70,000 trading range
10x Research said in its market analysis that interpreting trends is particularly challenging at critical moments in economic and financial markets, as old narratives are questioned and new narratives gradually take shape. During this time, traders and investors must pay close attention to market signals. It is crucial to recognize that the market tends to focus on one mainstream narrative before shifting its attention to the next topic. Understanding this dynamic is essential to effectively follow market transformations.
After the German address sold BTC in late June, market concerns turned to the upcoming payout of Mt.Gox in early July. The story took a dramatic turn with the attack on Trump and his subsequent selection of Bitcoin holder JD Vance as his vice presidential candidate. As Trump's chances of being elected soared to 70%, the price of Bitcoin was closely linked to these political developments. However, the momentum came to an abrupt halt when President Biden announced his withdrawal from the 2025 U.S. presidential race on July 21.
Bitcoin once again crossed the $70,000 mark after the discussion of a strategic reserve of Bitcoin emerged, which led to high expectations for Trump's speech at the Nashville Bitcoin Conference. Unfortunately, the speech did not live up to the hype. The rally ended when the U.S. government transferred $2 billion worth of Bitcoin. The trading range of $60,000 to $70,000 has remained stable, but a major shift in this range is coming.