TechFlow news: Markus Thielen, founder of 10x Research, said in a report that ongoing concerns about supply oversupply and lack of solid market fundamentals continue to pose potential risks for medium-term traders.
Last week, Bitcoin appeared to rebound from oversold levels ahead of the Consumer Price Index (CPI) release, which was expected to show a decline. However, since this expectation was widely known and Bitcoin had already risen, prices failed to hold. This trend of declining inflation could persist until October, when year-on-year data will become more challenging.
Bitcoin has withstood the test of nearly a 20% pullback from its lows during the sale of $3 billion worth of Bitcoin by the U.S. Saxony state. However, larger-scale sell-offs are expected in the coming weeks and months, which could further impact the market.
