ChainCatcher news, 10x Research stated in its latest report that the crypto market is undergoing some significant changes. While short-term concerns are evident, larger trends may soon overshadow these worries. Last night's market adjustment may have stemmed from weak economic data from China, indicating a need for additional stimulus measures.As a result, speculative traders may have shifted from Bitcoin to Chinese stocks for higher beta exposure. There are also concerns about the weakness at the beginning of the month. Additionally, Bitcoin's short-term technical indicators appear to be overbought.

ChainCatcher news, according to Cointelegraph, Bitcoin is approaching the key price level of $60,600, with multiple technical indicators showing bullish signals.Trader Titan of Crypto pointed out that both the Ichimoku cloud and MACD indicators indicate that Bitcoin is about to rise.Analyst Rekt Capital believes that if Bitcoin breaks through $60,600, it will mark a re-entry into the post-halving "accumulation zone" and may enter a phase of rapid price increase in late September.

ChainCatcher news, according to CryptoSlate, as of the time of writing, BTC and ETH have rebounded 21% and 18% respectively from the lows following the crash on August 4. However, Nansen's chief research analyst Aurelie Barthere stated that the worst may not be over yet. She explained, "BTC (and ETH) have reached a local bottom, but the daily trend still looks negative: the 50-day moving average is about to cross below the 200-day moving average."Barthere added that this creates a "death cross," a technical pattern that typically appears before a price decline. To avoid a bearish signal on its chart, BTC needs to stay above the price level of $62,000. However, the historical high between $70,000 and $71,000 remains a strong resistance level.Barthere further noted, "Psychologically, some traders have been hurt by the sell-offs in March and July, which may be a very difficult threshold to cross."Meanwhile, ETH shows a strong correlation with BTC, especially during sell-offs. It pointed out that ETH has already shown a death cross on the daily chart and needs to stay above the $2,700 level, which is an important resistance level tested in January and this week.

ChainCatcher news, 10x Research released a market analysis report indicating that it was mentioned in the report on June 25 that "Bitcoin is severely oversold." Currently, three market reversal indicators have turned bullish, and the approval of the Ethereum ETF has been postponed to around July 8, delaying the Sell The News date. Meanwhile, Biden's poor performance in the presidential debate has led the market to favor a Trump victory, boosting Bitcoin prices.Bitcoin rose by 4% as President Biden refused to let other Democratic candidates compete against former President Trump. Reports suggest that Biden's family is supporting his re-election campaign, as are every Republican, and market sentiment indicates that Biden's chances of defeating Trump in the November election seem slim. Polls show that even if Biden quickly withdraws from the race, another candidate, such as California Governor Gavin Newsom, would also lose to Trump.