10x Research: It is expected that Bitcoin's upward trajectory will soon recover, and investors are advised to pay attention to the 10-year Treasury yield

ChainCatcher news, 10x Research released a report stating that the Bitcoin and cryptocurrency market is still focused on the key data point that may break through $70,000. Although Bitcoin performed strongly over the weekend, the price has since retraced due to emerging macro and microeconomic challenges. However, it believes these are only temporary setbacks and expects Bitcoin's upward trajectory to resume soon.

10x Research also stated: "Since the FOMC meeting, Bitcoin has surged 18%, driven by Powell's confirmation that the Federal Reserve will continue to cut interest rates. While this indicates a strong bullish momentum, we advise investors to closely monitor the 10-year Treasury yield. The increasing likelihood of Trump's election may force the Federal Reserve to pause interest rate cuts earlier in response to his growth-promoting policies. Although the market still expects a rate cut in November or December, rising bond yields are shifting the focus to inflation, especially if global trade is constrained by Trump's tariff policies, countries may need to adopt strategies that favor domestic growth."