CoinVoice recently learned that 10x Research released a report saying that according to historical analysis, Bitcoin's return rate tends to be flat in August and decline in September. However, the "tail wind" brought by US interest rate policy, falling inflation rates and the election schedule may buffer the downward pressure brought by the unlocking of $1 billion in tokens in August.

While it expects Bitcoin to eventually break out, Bitcoin will likely need help from the "macro," i.e. the Fed expects rate cuts or inflation to fall again. Traders must watch Bitcoin as prices approach the top of the range. The July 31 FOMC meeting and the August 14 US CPI report will be crucial. [Original link]