TechFlow reported that 10x Research, a cryptocurrency research institution, released its latest analysis report. According to historical data analysis, Bitcoin's return rate is usually flat in August and shows a downward trend in September. However, favorable factors such as US interest rate policy, lower inflation and election schedule may ease the downward pressure brought by the unlocking of about $1 billion in tokens in August.
The report pointed out that Bitcoin's market dominance is hitting a new high in this cycle, which is worthy of attention. 10x Research predicts that Bitcoin's final breakthrough may require macro-level support, such as the Federal Reserve's expected interest rate cuts or further declines in inflation. Analysts suggest that traders pay close attention to the performance of Bitcoin prices when they approach the upper limit of the range.
The report specifically emphasizes that the Federal Reserve FOMC meeting on July 31 and the U.S. CPI report on August 14 will be key events that may affect whether Bitcoin will continue to fluctuate within the current wide range or break out of the existing price range.
