CoinVoice has recently learned that 10x Research stated, "Against the backdrop of rising oil prices, strong US Treasury yields, mixed employment data, and the Federal Reserve's cautious stance, Bitcoin's macro fundamentals are quietly strengthening.
As some altcoins (such as ADA and DOT) may shift treasury funds towards Bitcoin, and with key changes in the credit environment, the market is brewing a potential trend reversal. Bitcoin has been oscillating around $106,000 for the past month, with a fluctuation range of ±4%. The longer the consolidation period, the greater the likelihood of a breakout.
Although Federal Reserve Chairman Powell is expected to maintain a neutral stance at this week's FOMC meeting, and there are still risks of rising 10-year Treasury yields, on-chain indicators still support the current price level, as long as it stays above $100,437, the room for a pullback is limited.
Geopolitical risks are diminishing, and seasonal factors in summer may lead to continued consolidation of Bitcoin in the short term, but a shift in a macro signal in the medium to long term lays the foundation for potential gains within the year." [Original link]
