Bitcoin May Find Bear Market Bottom in August: 10x Research
Vexoda Newsroom
According to 10x Research, Bitcoin could confirm a bear market bottom in August if it closes above $63,000. However, rising Treasury yields may force the Fed to raise rates in September.
In an analysis published on August 3, 2026, 10x Research suggested that Bitcoin might find a bear market bottom by August if it closes above $63,000 for the month. Markus Thielen, founder of 10x Research, noted that while July's close below this threshold indicated no technical bottom yet, a monthly closing near $63,000 could trigger bullish signals from several cycle indicators.
If Bitcoin manages to stay above this level, it would mark a significant shift in the market. However, the report also highlighted potential risks such as rising Treasury yields and geopolitical tensions, particularly with Iran, which might prompt the Federal Reserve to raise interest rates in September despite its preference for maintaining steady rates.
Additionally, 10x Research pointed out that miners could generate around 100,000 BTC of selling pressure due to shifts towards artificial intelligence. The company also noted macroeconomic conditions as a larger risk factor compared to supply dynamics from Bitcoin treasury companies unwinding positions.
Zach Pandl at Grayscale suggested earlier in July that Bitcoin might have bottomed sooner than the traditional four-year cycle would indicate, placing the cycle low possibly in September or October. He emphasized that macroeconomic factors and Federal Reserve policies remain key drivers of Bitcoin’s price.
Other indicators supporting a potential market bottom included K33's report showing more than half of Bitcoin's supply was held at a loss since July 2026, suggesting proximity to a market bottom based on historical data. Swan Bitcoin CEO Cory Klippsten also cited long-term holders' record balance as an indicator that the market may be nearing its low point.
While these developments suggest potential positive signals for investors, traders should remain cautious due to ongoing macroeconomic uncertainties and geopolitical risks. The broader implications include a shift in trading strategies from defensive to more neutral or potentially bullish positions depending on how key support levels hold up.
Traders are advised to keep an eye on Bitcoin's performance around the $63,000 level as well as Treasury yields and Fed actions over the coming months.
Source: Cointelegraph. Summarized and rewritten by the Vexoda Newsroom. This is market news, not financial advice.