Bitcoin (BTC) has been buying and selling in an excruciatingly tight vary just under $120,000, however the rally is shortly shedding momentum because the market enters what has traditionally been a gentle month for the crypto, a report from 10x Analysis warned.
August has been bitcoin’s weakest month over the previous decade, with solely three constructive years and others delivering 5–20% losses, the report famous.
The report additionally flagged a slowdown in capital flows into the Bitcoin community, a key driver of worth motion this 12 months. Whole cumulative inflows into the community now exceed $1 trillion, with $206 billion arriving in 2025.
However the 30‑day rolling common slipped from $62.4 billion to $59.3 billion, that would mark the beginning of a consolidation section, the report stated, mirroring previous peaks on this metric like in Q1 and This fall 2024.
“Time is operating quick, and regardless of billions in capital inflows from company treasuries, the precise worth influence has been surprisingly muted,” wrote Markus Thielen, co-founder and lead analyst at 10x. “This raises the chance that even with continued help, the market might fall wanting delivering the type of upside many are hoping for.”
The report forecasts a possible break under $117,000, with help at $112,000 and a deeper ground across the $106,000–$110,000 threshold.
Nonetheless, BTC bulls might cling to the hope that the outlier August features occurred in 2013, 2017 and 2021, throughout Bitcoin’s post-halving years coinciding with roaring bull markets.
And 2025 is likely to be a 12 months similar to these.
Learn extra: BTC Faces Golden Fibonacci Hurdle at $122K, XRP Holds Support at $3