10x Research: Bitcoin could fall further to $50,000

Odaily Odaily News 10x Research analysts said that Bitcoin has the potential to fall further to $50,000. Breaking through the psychological benchmark of $60,000 and heading down to $50,000 marks a major shift in market sentiment, which 10x Research attributes to the fact that buying flows are drying up, "while selling flows are accelerating." Analyst Markus Thielen said this downward spiral was foreseeable, saying: "Our data from early June already suggested that the time is ripe for an overbought market correction." (Cointelegraph)