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Analysis: Under the influence of multiple macro catalysts, Bitcoin may reach $116,000 in July.
According to BlockBeats news on July 3, Markus Thielen, head of research at 10x Research, stated that Bitcoin is testing the top of its consolidation range as the perfect storm of macro catalysts begins to form. He pointed out that under the influence of three factors: strong inflows into Spot Bitcoin ETFs, uncertainty from The Federal Reserve (FED), and the rapid decline in Bitcoin supply on cryptocurrency trading platforms, Bitcoin may reach $116,000 in July. "Historically, this sustained outflow of funds indicates an intensification of scarcity and increased upward pressure. If this pattern continues, Bitcoin may be laying the groundwork for another breakout."