Experts at 10x Research warn that Bitcoin could drop below $50,000, pointing to decreasing buy flows and increasing sell flows as contributing factors.
On July 4, Bitcoin’s price fell below $57,000 from over $60,000, and analysts at 10x Research suggest that this decline might continue, potentially reaching $50,000. This move below the psychological $60,000 mark represents a significant change in market sentiment.
Markus Thielen, an analyst at 10x Research, highlighted the trend, noting:
“Our data from early June already hinted at an overbought market ripe for correction.”
Summary Review: As Bitcoin faces pressure from diminishing buy activity and growing sell-offs, investors should brace for potential further declines, keeping a close watch on market trends and data.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision.
