Crypto Market Struggles Persist as Bitcoin Eyes $73K, Warns 10X Research
With crypto markets under pressure, investors are left wondering whether the worst is over or if further losses are ahead.
Markus Thielen of 10X Research, who correctly predicted the recent downturn, remains cautious, suggesting that the sell-off is still unfolding.
He likened the current collapse in memecoins to the DeFi/NFT implosion after the 2021 bull run, which left Ethereum (ETH) struggling to recover. This time, Solana (SOL) and other related tokens are feeling the pain.
“This structural downturn suggests a weakening market foundation,” Thielen wrote in a Tuesday report. “Bitcoin (BTC) is on track for $73,000… and history shows that a fresh narrative will be needed for the next sustained rally.”
