Bitcoin (BTC) has traded in an eerie tight range just under $ 120,000, but the rally loses momentum as the market enters what has historically been a soft month for crypto, warned a report from 10x research.
August has been Bitcoin’s weakest month in the last decade, with only three positive years and others who delivered 5-20% losses, the report noted.
The report also marked a slowdown in the capital streams to the Bitcoin network, an important driving force for price action this year. Total cumulative influxes in the network are now exceeding $ 1 trillion, with $ 206 billion arriving in 2025.
But the 30 -day rolling average slid from $ 62.4 billion to $ 59.3 billion, which could mark the start of a consolidation phase, the report mirroring tops in this metric similar in Q1 and Q4 2024 said.
“Time is running short, and despite billions in capital inflow from corporate chains, the actual award impact is surprisingly muted,” wrote Markus Thielen, co -founder and main analyst of 10x. “This raises the possibility that even with continued support, the market cannot deliver the kind of upside that many are hoping for.”
The report predicts a probable break below $ 117,000 with support for $ 112,000 and a deeper floor around the threshold of $ 106,000- $ 110,000.
Still, BTC Bulls can cling to the hope that the Outlier August win happened in 2013, 2017 and 2021, in Bitcoin’s year after half that coincided with roaring bull markets.
And 2025 may be a year just like them.
Read more: BTC is facing Golden Fibonacci Hurdle for $ 122K, XRP has support for $ 3
