10x Research Joint Creation: Bitcoin may fall to $50,000 in the next few weeks

Markus Thielen, co-founder of 10x Research, stated that due to the macroeconomic uncertainty looming over the cryptocurrency market, Bitcoin could potentially drop to $50,000 in the coming weeks. He said: "I wouldn't place any trust in halving because I don't think it's a major driving factor; rather it's more significant macro factors." Thielen analyzed: "We no longer have the typical drivers that really pushed prices from $40,000 up to $70,000 area. The main reason behind this is spot Bitcoin ETFs. Over the past few weeks as investors have moved beyond their initial excitement period following its launch in January, there has been hardly any new capital inflow into Bitcoin ETFs."