[10x Research Founder: Bitcoin May Reach $90,000 by Year-End] According to a Cointelegraph interview on November 4th, Markus Thielen, founder of 10x Research, is cautiously optimistic that Bitcoin will reach $90,000 by the end of the year, but predicts the price may first fall to the mid-to-high of $70,000 before rebounding at the end of the year. Thieleen believes Bitcoin will outperform Ethereum, partly because much of the value in the Ethereum ecosystem is flowing to Layer 2, and network usage is not providing sufficient returns for holders. He also stated that, based on his analysis of 13F filings, of the approximately $60 billion in net inflows into Bitcoin spot ETFs, about $20 billion to $30 billion came from options market makers, with related positions used as collateral for options trading.