In July, Bitcoin reached a new peak at $123,000, marking the highest all-time high. However, shortly after, the market began to lose momentum, causing many investors to become more cautious.
According to the latest report from 10X Research, the seasonal model shows that BTC is entering the weakest phase of the year.
"August is the worst month for Bitcoin in the past 12 years, with declines in 8 out of the last 12 years," expert Markus Thielen emphasized.
September is no better, with BTC averaging a 4.6% decline in 8 out of the last 12 years. Additionally, capital inflows into ETF funds are also stagnating, contributing to an increase in the risk of price correction.
Although many expectations are still aimed at the $140,000 - $150,000 mark, 10X Research believes that BTC is unlikely to achieve this without surpassing the dense resistance zones around $112,000 and $115,000.
"Without strong momentum, Bitcoin could get stuck at these levels," the report warns.
In the scenario of price decline, important support zones around $106,000 and $94,000 will play a temporary price holding role.
$BTC
According to the latest report from 10X Research, the seasonal model shows that BTC is entering the weakest phase of the year.
"August is the worst month for Bitcoin in the past 12 years, with declines in 8 out of the last 12 years," expert Markus Thielen emphasized.
September is no better, with BTC averaging a 4.6% decline in 8 out of the last 12 years. Additionally, capital inflows into ETF funds are also stagnating, contributing to an increase in the risk of price correction.
Although many expectations are still aimed at the $140,000 - $150,000 mark, 10X Research believes that BTC is unlikely to achieve this without surpassing the dense resistance zones around $112,000 and $115,000.
"Without strong momentum, Bitcoin could get stuck at these levels," the report warns.
In the scenario of price decline, important support zones around $106,000 and $94,000 will play a temporary price holding role.
$BTC