10x Research: Key macro signals turn bullish, market brewing a trend reversal
ChainCatcher news, 10x Research stated, "Against the backdrop of rising oil prices, strong U.S. Treasury yields, mixed employment data, and the Federal Reserve's cautious stance, Bitcoin's macro fundamentals are quietly strengthening.As some altcoins (such as ADA and DOT) may see their treasury funds shift towards Bitcoin, and with key changes in the credit environment, the market is brewing a potential trend reversal. Bitcoin has oscillated around $106,000 over the past month, with a volatility range of ±4%. The longer the consolidation period, the greater the likelihood of a breakout.Although Federal Reserve Chairman Powell is expected to maintain a neutral stance at this week's FOMC meeting, and there are still upward risks for the 10-year U.S. Treasury yield, on-chain indicators continue to support the current price level. As long as it remains above $100,437, the room for a pullback is limited.Geopolitical risks are diminishing, and seasonal factors in summer may lead Bitcoin to continue consolidating in the short term, but a shift in macro signals in the medium to long term lays the foundation for potential gains within the year."