coin-img-ETHETH+5.96%coin-img-BTCBTC+2.36%coin-img-VVVVVV+8.38%coin-img-SOLSOL+3.91%coin-img-HPETHPET+1,095.44%coin-img-XRPXRP+3.95%coin-img-USDCUSDC+0.00%coin-img-HYPEHYPE+6.39%coin-img-ETHETH+5.96%coin-img-BTCBTC+2.36%coin-img-VVVVVV+8.38%coin-img-SOLSOL+3.91%coin-img-HPETHPET+1,095.44%coin-img-XRPXRP+3.95%coin-img-USDCUSDC+0.00%coin-img-HYPEHYPE+6.39%coin-img-ETHETH+5.96%coin-img-BTCBTC+2.36%coin-img-VVVVVV+8.38%coin-img-SOLSOL+3.91%coin-img-HPETHPET+1,095.44%coin-img-XRPXRP+3.95%coin-img-USDCUSDC+0.00%coin-img-HYPEHYPE+6.39%coin-img-ETHETH+5.96%coin-img-BTCBTC+2.36%coin-img-VVVVVV+8.38%coin-img-SOLSOL+3.91%coin-img-HPETHPET+1,095.44%coin-img-XRPXRP+3.95%coin-img-USDCUSDC+0.00%coin-img-HYPEHYPE+6.39%

10x Research: Long-term BTC holders cushion near-term moves as jobs data swings sentiment

AI Market Summary
10x Research highlights competing BTC drivers: ETF outflows and macro-triggered volatility versus persistent long-term holder accumulation providing support. Softer U.S. employment data shifted rate-hike expectations later, easing near-term financial conditions and marginally supporting risk assets. Seasonality is cited as constructive for July, while August–September often sees consolidation, implying a more range-bound setup despite the recent rebound.
Impact level
● Medium
Affected assets
BTC/USDT+2.36%
AI Insight · BTC/USDTAI Insight
● Neutral
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10x Research said Bitcoin saw early volatility after U.S. employment figures came in stronger than expected, while ETF outflows added to selling pressure. Even so, steady demand from long-term holders helped underpin prices. The firm noted that subsequent weaker jobs data shifted market pricing for the next rate hike from October 2026 to December 2026, providing a degree of short-term support for Bitcoin. Looking at seasonality, 10x Research highlighted that July has historically been a strong month for Bitcoin, posting an average gain of 9.1%. August through September typically brings consolidation, with September often shaping up as the potential cycle low. Bitcoin's rebound from $58,500 to $61,500 may be creating fresh positioning opportunities for traders, the report added.
BTC
BTC+2.36%
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