Analysis: Strong buying from long-term holders provides short-term support for BTC, but caution is still needed regarding the cycle low

Odaily reported that 10x Research's analysis indicates that Bitcoin price volatility was initially triggered by stronger-than-expected U.S. employment data, with ETF outflows also intensifying selling pressure. However, active buying by long-term holders helped the market establish price support. Additionally, weak employment data pushed market expectations for the next interest rate hike from October 2026 to December, providing some support for Bitcoin's short-term outlook. 10x Research added that historical data shows July has consistently been a strong month for Bitcoin, with an average gain of 9.1%. However, the market typically enters a consolidation phase from August to September, and September may become the cycle low. Bitcoin's recent rebound from $58,500 to $61,500 may be offering traders new positioning opportunities.