Following Bitcoin’s drop below the $100,000 mark over the weekend, fresh narratives are surfacing about where the top crypto might be headed next. Despite more than $63 billion flowing into the crypto market in 2024, Bitcoin has only managed a modest 13% gain year-to-date, raising questions about what’s holding back the top cryptocurrency.
According to 10x Research, the usual catalysts such as ETF inflows, stablecoin activity, and corporate accumulation are in play, yet Bitcoin is no longer reacting the way it did during last year’s rally. Unlike the booming reaction in 2024, Bitcoin is now behaving differently, suggesting something deeper is shifting.
Bitcoin Price Prediction Today
| Level | Price | Type | Description |
| Resistance | $110,000 | Bullish Target | Next key upside level if $97K support holds; seen as a potential rebound zone. |
| Resistance | $106,000 | Recovery Level | BTC has bounced to this level after the weekend dip; signals renewed interest. |
| Neutral | $100,000 – $106,000 | Consolidation Zone | BTC may range between these levels until CPI or macro catalysts emerge. |
| Support | $100,000 | Psychological Support | Former key level now acting as minor support after the recent drop. |
| Support | $97,000 | Key Entry Point | Closely watched as a final dip zone; considered a solid re-entry point. |
Traders Are Shifting Tactics
Instead of sparking a big rally, 10x Research says traders are showing their bullishness in quieter ways. They’re adapting to lower market volatility and putting their money into fewer top coins. This shift in strategy might be slowing down Bitcoin’s short-term gains, even though there’s still plenty of money flowing into the market.
Why the Disconnect?
The report also revisits the Fed’s surprise 50 bps rate cut in September 2024, which was met with skepticism. Bond yields surged, indicating investors weren’t convinced it was the right move. Meanwhile, inflation, which dropped from 3.5% in April 2024 to a stable 2.4%, has remained steady for three straight months. However, the expert’s warnings that tariffs would reignite inflation have so far proven inaccurate.
Meanwhile, unemployment has held steady at 4.2% for nearly a year, defying recession fears. With macro fundamentals stabilizing and the Fed’s tone becoming more dovish, many expected a stronger Bitcoin rally. Yet, the market seems to be waiting for clearer signals.
All Eyes on July CPI and Bitcoin’s Next Move
With inflation steady and liquidity still flowing, all eyes are now on the July 15 CPI report as the next big market catalyst. 10x Research hints that Bitcoin’s next move may depend less on money flowing in and more on how market participants continue to adapt to these changing geopolitical and financial scenarios.
Looking at the current sentiment, Analyst Astronomer suggests the decline may not be over yet, with a possible final dip before the price bounces back. The $97,000 zone is being watched closely as a key level for buyers to re-enter the market.
If support holds, Bitcoin could aim for a rebound toward $110,000. Weekend lows tend to be retested, and with sentiment shifting following a ceasefire deal between Israel and Iran, Bitcoin has already climbed back to $106,000.
This geopolitical development, along with improving market mood, has brought renewed buying interest. The overall outlook remains cautiously bullish, with investors eyeing $97,000 as a solid entry point if another dip happens.
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FAQs
Geopolitical developments, like the recent Israel-Iran ceasefire, have positively impacted Bitcoin, leading to renewed buying interest and a rebound towards $106,000.
The July 15 CPI report is a major upcoming market catalyst. Bitcoin’s next move may depend on how market participants react to this and other macro signals, rather than just liquidity.
The overall sentiment is cautiously bullish. While some anticipate a final dip to $97,000, the market is showing renewed buying interest, adapting to lower volatility, and focusing on fewer top coins.
