Krutika Adani
Bitcoin hit a new monthly low of $64,597 due to increased sales pressure.
The price will remain suppressed in the coming months for several fundamental reasons.
10x Research has cited low stablecoin holdings as a major reason for big investors' lack of buying interest.
Earlier, Markus Thielen, who heads 10x Research, also said that miner sales would keep Bitcoin under pressure in the coming few months after the Bitcoin Halving.
At press time, Bitcoin reached a level near $65k, which also acts as a minor support. Bitcoin must stay above $70k for a new ATH, a significant resistance.