TechFlow, June 16 — According to 10x Research, despite markets digesting rising oil prices, resilient bond yields, mixed employment data, and cautious signals from the Federal Reserve, Bitcoin is quietly strengthening its macro fundamentals.
The report indicates that treasury holdings of altcoins (such as ADA, DOT) may be shifting toward Bitcoin, and changes in the credit environment are also sending important signals. 10x Research views $106,000 as a key level, around which Bitcoin has consolidated over the past month within a narrow trading range of just ±4%. Blockchain data indicators remain supportive, with limited downside potential as long as prices hold above $100,437.
While in the short term, Fed Chair Powell's neutral stance, risks of rising U.S. Treasury yields, and seasonal summer factors could keep Bitcoin range-bound, long-term fundamentals are improving.
