BlockBeats News: On June 16th, 10x Research published an article stating that "Against the backdrop of rising oil prices, strong US bond yields, divergent employment data, and the cautious stance of the Federal Reserve, the macro fundamentals of Bitcoin are quietly strengthening.
With some counterfeit currencies (such as ADA and DOT) potentially shifting their treasury funds to Bitcoin, and key changes in the credit environment, the market is brewing a potential trend reversal. Bitcoin has fluctuated around $106000 in the past month, with a fluctuation range of ± 4%. The longer the consolidation time, the greater the possibility of a breakthrough.
Although Federal Reserve Chairman Powell is expected to maintain a neutral attitude at this week's FOMC meeting and there is still risk of an upward trend in the 10-year Treasury yield, on chain indicators still support the current price level. As long as it remains above $100437, there is limited room for correction.
The impact of geopolitical risks has weakened, and seasonal factors in the summer may continue to consolidate Bitcoin in the short term. However, a shift in a medium - to long-term macro signal lays the foundation for a potential upward trend this year
