PANews news on June 16th, 10x Research indicates that the overall market environment for Bitcoin is improving. With rising oil prices, stable bond yields, and cautious signals from the Federal Reserve, Bitcoin's attractiveness is gradually increasing, and funds from some Altcoins (such as ADA, DOT) may be shifting towards Bitcoin.
Currently, Bitcoin price is fluctuating slightly around $106,000, and the continued sideways consolidation may be accumulating strength for future breakthroughs. On-chain data shows that as long as the price remains above $100,437, the adjustment range is expected to be limited.
Although the neutral attitude of Federal Reserve Chairman Powell and seasonal factors may cause Bitcoin to continue oscillating in the short term, from a medium to long-term perspective, an important market signal has turned bullish, which may lay the foundation for Bitcoin's subsequent rise.
