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

Odaily Planet Daily News: 10x Research analysis points out that stronger-than-expected US employment data once caused Bitcoin price volatility, and ETF outflows also intensified selling pressure. However, active buying by long-term holders helped the market form price support. Meanwhile, weak employment data has pushed market expectations for the next interest rate hike from October 2026 back to December, providing some short-term support for Bitcoin. 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 usually enters a consolidation phase from August to September, and September could become the cycle low. Bitcoin's recent rebound from $58,500 to $61,500 may be offering traders new positioning opportunities.