According to CoinMeta, analysts at 10xResearch pointed out that the critical price level that Bitcoin is currently facing is $63,000. If it breaks through this level, it may determine whether Bitcoin will remain in a bear market or not. The analysts mentioned that Bitcoin just missed the technical threshold for confirming the bottom of the bear market in July, and miners and treasury companies might release supply pressure onto the market at this time. Meanwhile, the yield on 10-year Treasury bonds has just broken through a key level, and its future trend will affect market sentiment. Although geopolitical tensions in the Middle East have eased, reducing market risk sentiment, whether Bitcoin can turn bullish in August still depends on this critical price level.