Analysis: Long-term holders' active buying helps BTC form short-term support, but caution is still needed for the cycle low.

Odaily reports that 10x Research has analyzed and pointed out that the stronger-than-expected US employment data once led to fluctuations in Bitcoin's price, and ETF outflows also intensified the selling pressure. However, active buying by long-term holders helped the market form price support. Meanwhile, the weaker employment data has pushed market expectations for the next interest rate hike from October 2026 to December 2026, providing some support for Bitcoin's short-term trend. 10x Research added that historical data shows July has been a relatively strong month for Bitcoin performance, with an average gain of 9.1%. However, the market typically enters a consolidation phase from August to September, and September could become the low point of this cycle. Bitcoin's recent rebound from $58,500 to $61,500 may be offering traders new positioning opportunities.