10X Research Director predicts bitcoin may fall to the $40,000-$50,000 range this summer

Markus Thielen, Head of Research at 10X Research, stated that bitcoin may hit new lows this summer, potentially dropping to $50,000, or even falling within the $40,000 to $50,000 range. This week, the main sources of selling pressure in the crypto market have been spot bitcoin ETF sell-offs, a wave of forced liquidations triggered by sharp price declines, and the spillover effect from the sell-off in software stocks, all of which have intensified market volatility. Some investors have entered the market to buy the dip, leading to a brief price rebound, but most market participants remain cautious about whether the bottom is near.