Urgent Alert: Bitcoin Price Faces Critical Weakness Ahead of August Downturn
Main Idea
10x Research warns of potential Bitcoin price weakness in August due to historical seasonal trends and declining on-chain capital inflows, though past post-halving years have shown resilience.
Key Points
1. August is historically Bitcoin's weakest month, with losses typically ranging from 5% to 20%, attributed to decreased trading activity and lower liquidity.
2. On-chain capital inflows have declined, with the 30-day rolling average dropping from $62.4 billion to $59.3 billion, signaling a potential shift in market dynamics.
3. A breakdown below $117,000 could trigger further declines, with support levels identified between $106,000 and $110,000.
4. Bitcoin has shown resilience in August during post-halving bull markets (e.g., 2013, 2017, 2021), driven by strong bullish momentum.
5. Investors are advised to prepare for volatility using strategies like stop-loss orders, dollar-cost averaging, and monitoring on-chain metrics.
Description
BitcoinWorld Urgent Alert: Bitcoin Price Faces Critical Weakness Ahead of August Downturn The cryptocurrency market is a dynamic beast, constantly shifting and evolving. Just when you think you’ve got a handle on its movements, a new report emerges, urging caution. Recently, 10x Research, a prominent name in crypto analytics, issued a significant warning that has caught the attention of investors worldwide: the Bitcoin price might be heading for a period of notable weakness, particularly as we a...
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