Will Bitcoin Drop to $55,000? 10x Research Reveals the Date for the True Bottom

10x Research founder Markus Thielen warned investors that the Bitcoin (BTC) price could drop to the $55,000 level before finding its true bottom.

While uncertainty continues to dominate the cryptocurrency markets, a new report published by analysis firm 10x Research painted a pessimistic picture for Bitcoin. The company’s founder, Markus Thielen, stated that the current downtrend has not yet ended and that the price could slip further. According to Thielen, the strengthening of the US dollar in global markets in particular continues to exert significant pressure on the leading cryptocurrency.

The biggest risk factor highlighted in the analysis is the hawkish stance of the US Federal Reserve (Fed). While expectations for rate cuts in the markets have given way to discussions about rate hikes, this situation is pushing the dollar index higher. Sharp fluctuations in charts and technical indicators emphasize that investors should be cautious at this stage and that it is important to perform profit-loss calculations according to this potential pullback.

Critical Date for Bitcoin: Late August

Thielen tracks three main indicators to determine the market’s direction: global liquidity trends, the macroeconomic calendar, and Bitcoin‘s historical cycles. In light of these data, the market is expected to find its true bottom between late August and October. It is predicted that September, in particular, will be historically weak, and during this period, the price could slip below $60,000 and retreat to the $55,000 level.

Models tracking global liquidity changes accurately predicted the buy signals in March and exit signals in April. The same model now points to the end of August as a critical turning point. Experts stating that investors should be patient during this process highlight that a serious price correction could occur in the market before the potential recovery in October.