The head of 10X Research predicts that Bitcoin may fall to the $40000 to $50000 range in the summer

Markus Thielen, research director at 10X Research, stated that Bitcoin may hit a new low this summer, with a minimum of $50000 or even falling into the $40000 to $50000 range. The selling pressure in the cryptocurrency market this week was mainly due to the sell-off of Bitcoin spot ETFs, the forced liquidation wave caused by the sharp drop in prices, and the joint impact of the sell-off of software stocks, resulting in increased market volatility. Some investors have entered the market to undertake and drive a short-term rebound in prices, but most market participants still hold a reserved attitude towards whether it is close to the bottom.