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Crypto News: Bitcoin and Ethereum Approach Breakout Zones Amid Political and Technical Catalysts According to 10X Research

08/08 18:07

Key Takeaways:Bitcoin retests $117K as traders eye breakout, but macro headwinds remain.Ethereum sees record address activity and rising prices — but momentum appears narrative-driven.Trump’s pro-crypto signals (401(k) access, gold push) offer sentiment support, but with limited market impact so far.Both BTC and ETH are nearing key technical resistance levels with compressed volatility.Bitcoin and Ethereum are inching toward critical breakout levels, fueled by a mix of technical setups, political shifts, and speculative momentum — but whether these catalysts are enough to spark sustained rallies remains in question.According to a new report from 10x Research, Bitcoin’s sharp rebound toward the $117,000 mark has reignited short-term bullish sentiment, but the underlying market context still shows compressed volatility and a seasonally weak backdrop. The rally, they warn, may be more reactive than structural.On the policy front, recent moves by former U.S. President Donald Trump — including proposals to allow crypto in 401(k) retirement accounts and a renewed focus on gold — have stirred interest among macro-focused investors. However, market reaction so far has been muted, suggesting these narratives are not yet driving large inflows.Ethereum, meanwhile, is showing signs of internal strength, with record address activity and rising prices. But the surge appears to be propelled more by sentiment than fundamentals, with ETH still lacking a decisive macro or regulatory catalyst.Technically, both BTC and ETH are now testing long-term resistance levels. Ethereum is nearing the top of a multi-year pattern, and Bitcoin is pushing against levels that have previously triggered sharp reversals. With volatility still compressed, any breakout — or rejection — could be swift and significant.

Bullish

Kasar