10x Research: A larger-scale sell-off of Bitcoin is expected in the coming weeks and months

ChainCatcher news, 10x Research stated in a report that concerns persist due to oversupply and a lack of solid market fundamentals, posing potential risks for mid-term traders. Last week, before the Consumer Price Index (CPI) was released, Bitcoin seemed to have rebounded from oversold levels, while the index was expected to decline.

However, since this expectation has become widely known and Bitcoin has already risen, the price could not be sustained. This trend of declining inflation may continue until October, when year-on-year data will be more challenging. Although Bitcoin experienced nearly a 20% pullback at its lowest point during the sale of $3 billion worth of Bitcoin in Saxony, USA, it has withstood this test. However, larger-scale sell-offs are expected in the coming weeks and months, which may further impact the market.