10x Research: Bullish Macro Trends Signal Potential Bitcoin Breakout From Prolonged Consolidation
In Brief
10x Research’s latest report suggests Bitcoin is quietly strengthening its long-term case amid mixed macro signals, with consolidation near $106,000 potentially setting the stage for a major move later this year.
Firm focused on digital asset analytics for wealth managers and cryptocurrency-related service providers, 10x Research released its latest market report offering updated perspectives on the current state of the cryptocurrency sector.
The analysis highlights that, amid the broader macroeconomic environment—characterized by rising oil prices, persistent bond yields, mixed labor data, and reserved communication from the Federal Reserve—Bitcoin appears to be gradually reinforcing its long-term investment case.
The report suggests that some altcoin treasuries, including those holding ADA and DOT, may be reallocating toward Bitcoin, while evolving credit conditions may be signaling broader changes that have not yet attracted widespread attention. These nuanced shifts in market momentum may be establishing conditions conducive to a notable price movement later in the year.
Despite this underlying optimism, the report also notes that upward momentum is not guaranteed, and both timing and market positioning are likely to be pivotal. The $106,000 price level is identified as a critical threshold, with Bitcoin having spent the past month trading in a narrow band of approximately ±4% around that point. The extended period of consolidation is seen as increasing the probability of a potential breakout in either direction.
Federal Reserve Chair Jerome Powell is expected to maintain a neutral stance at the upcoming FOMC meeting, which the report interprets as unlikely to introduce a new catalyst capable of shifting prevailing market sentiment. Furthermore, the report states that the ongoing geopolitical tension between Israel and Iran is no longer expected to affect Bitcoin’s trajectory, although other factors may continue to contribute to its consolidation.
From an on-chain perspective, indicators remain constructive, suggesting that any downside corrections should be relatively modest provided Bitcoin maintains levels above $100,437. At the same time, with limited expectations for dovish intervention from the Federal Reserve and a potential for rising US 10-year bond yields—despite signs of a weakening labor market—the report suggests macroeconomic forces may constrain Bitcoin’s price movement over the near term, particularly during the slower summer trading season. Nevertheless, the emergence of a favorable medium- to long-term macroeconomic signal is viewed as a potentially important development for future price direction.
Bitcoin Nears $107K, Global Crypto Market Cap Hits $3.34T
At the time of reporting, Bitcoin is trading at $107,038, reflecting a 1.94% increase over the past 24 hours. During this period, the lowest recorded price was $104,572, while the highest reached $107,227. The asset’s total market capitalization currently stands at $2.12 trillion, showing a 1.89% rise within the same time frame.
The overall global cryptocurrency market capitalization is measured at $3.34 trillion, marking a 2.26% increase in the last 24 hours. Total market trading volume for the same period has reached $98.08 billion, representing a 25.28% increase, according to data provided by CoinMarketCap.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
