10x Research: A new downward trend for BTC seems to be forming

Cryptocurrency research institute 10x Research has analyzed that the Depository Trust Clearing Corporation (DTCC) announced from April 30th, it will no longer provide any collateral value for any ETFs or other investment tools that include Bitcoin or other cryptocurrencies as underlying investments. The related assets will be considered as a 100% write-off, which means market makers need to provide more margin. 10x Research pointed out that Bitcoin prices are creating lower highs and a new downward trend seems to be forming. Against this backdrop, DTCC's statement could have significant implications.