Analysis: Active buying by long-term holders helps BTC form short-term support, but caution is still needed for the cycle low.

Odaily Planet Daily News: 10x Research analysis points out that stronger-than-expected US employment data once led to Bitcoin price volatility, and ETF outflows also exacerbated the selling pressure. However, active buying by long-term holders helped the market form price support. At the same time, weak employment data pushed back 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 that July has historically been a strong month for Bitcoin, with an average return of 9.1%. However, the market typically 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 a new positioning opportunity.