10x Research: It is expected that Bitcoin will eventually break new highs, but it will likely require the Federal Reserve to cut interest rates or inflation to decline again
ChainCatcher message, 10x Research released a report stating that, based on historical analysis, Bitcoin's returns tend to remain flat in August and decline in September. However, the "tailwinds" from U.S. interest rate policy, decreasing inflation rates, and the election schedule may buffer the downward pressure from the $1 billion token unlock in August.While it is expected that Bitcoin will eventually break through, it is likely that Bitcoin will need "macro" assistance, namely anticipated rate cuts from the Federal Reserve or a further decline in inflation. Traders must watch Bitcoin closely as prices approach the upper range. The FOMC meeting on July 31 and the U.S. CPI report on August 14 will be crucial.
