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**10x Research: Bitcoin’s Most Explosive Rebound Could Be Imminent**
The cryptocurrency market has been on a rollercoaster ride recently, with Bitcoin (BTC) witnessing a significant drop of 2.4% in the past 24 hours. The asset’s recent slide started in August and could be poised for a massive rebound according to fresh insights from 10x Research.
In its latest report, the research firm has highlighted an overlooked factor that could trigger a sharp price reversal similar to last year’s powerful comeback. The findings indicate that investors should not underestimate the potential magnitude of this impending surge.
The report highlights the importance of technical levels and macroeconomic trends in the current market environment. One analyst believes that Bitcoin’s resilience despite recent volatility is a testament to its long-term viability as an asset class.
Bitcoin has been under pressure since the start of August, with prices hovering around $114,240. Many are wondering whether this correction phase might be coming to an end soon. This could trigger significant buying momentum reminiscent of last year’s unexpected rate cut by the Federal Reserve, which ultimately led to a sharp rebound.
10x Research stresses that there is a growing consensus among traders and investors that Bitcoin has matured significantly, capable of withstanding macroeconomic shocks that once might have triggered more severe sell-offs.
Source: crypto-economy.com
