{"id":22947,"date":"2025-04-11T12:46:18","date_gmt":"2025-04-11T09:46:18","guid":{"rendered":"https:\/\/forklog.com\/en\/10x-research-deems-bitcoins-bullish-impulse-premature\/"},"modified":"2025-04-11T12:46:18","modified_gmt":"2025-04-11T09:46:18","slug":"10x-research-deems-bitcoins-bullish-impulse-premature","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/10x-research-deems-bitcoins-bullish-impulse-premature\/","title":{"rendered":"10x Research Deems Bitcoin&#8217;s Bullish Impulse &#8216;Premature&#8217;"},"content":{"rendered":"<div class=\"wp-block-text-wrappers-keypoints article_keypoints\">\n<ul class=\"wp-block-list\">\n<li>Bitcoin faces resistance at $84,000 and $96,000, with support at $80,000.<\/li>\n<li>The growth of the global money supply sets the stage for a potential bull run.<\/li>\n<li>In the short term, recession fears in the US economy could pressure prices.<\/li>\n<\/ul>\n<\/div>\n<p>Anticipating a bullish impulse in the leading cryptocurrency is premature due to the risk of renewed selling driven by recession fears, according to a report by <a href=\"https:\/\/update.10xresearch.com\/p\/what-widening-u-s-credit-spreads-mean-for-bitcoin-risk-or-opportunity\">10x Research<\/a>.<\/p>\n<p>Experts highlighted the widening credit spreads in the corporate bond market, indicating a deeper penetration of economic downturn concerns.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;<\/em><a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-surges-past-81000-amid-trumps-tariff-pause\"><em>The 90-day tariff truce<\/em><\/a><em> was a clear attempt to stabilize the rapidly rising yield of <span data-descr=\"US Treasuries\" class=\"old_tooltip\">US Treasuries<\/span>. Given the conditions for a return to recent highs, this move seems to have failed. This suggests market skepticism and the limitations of such short-term interventions,&#8221;<\/em> the document states.<\/p>\n<\/blockquote>\n<p>Marcus Thielen, Head of Research at 10x Research, told <a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-bullish-impulse-recession-premature-crypto-analyst-forecast\">Cointelegraph<\/a> about the positive long-term effects of a recession for digital gold due to the subsequent easing of monetary policy by the <span data-descr=\"Federal Reserve System\" class=\"old_tooltip\">Federal Reserve<\/span>.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;Bitcoin is usually sold off initially when China devalues or the Fed cuts rates, as the first such move may not be strong and also confirms economic weakness,&#8221;<\/em> he explained.<\/p>\n<\/blockquote>\n<p>Futures market traders are betting on the first easing of Fed monetary policy at the June 18 meeting with an 89.4% probability.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"138\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/1-1508-1024x138.png\" alt=\"1-1508\" class=\"wp-image-256410\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/1-1508-1024x138.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/1-1508-300x40.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/1-1508-768x103.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/1-1508.png 1306w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/www.cmegroup.com\/markets\/interest-rates\/cme-fedwatch-tool.html?redirect=\/trading\/interest-rates\/countdown-to-fomc.html\">CME FedWatch<\/a>.<\/figcaption><\/figure>\n<p>According to Thielen, when credit spreads &#8220;begin to widen,&#8221; Bitcoin historically faces greater downward pressure and requires more time to recover.<\/p>\n<p>An additional bearish factor in the short term is currency devaluation. Over the past five days, the US dollar index DXY <a href=\"https:\/\/www.tradingview.com\/symbols\/TVC-DXY\/\">plummeted by 3.52%<\/a>.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Technical Outlook<\/strong><\/h2>\n<p>According to CryptoQuant, Bitcoin may encounter resistance at $84,000. If surpassed, the next target is $96,000. Analysts suggest the lower boundary for the cryptocurrency&#8217;s price fluctuations will be around $80,000.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/2-1071.webp\" alt=\"2-1071\" class=\"wp-image-256411\"\/><figcaption class=\"wp-element-caption\">Data: CryptoQuant, <a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-resistance-level-84k-bullish-conditions-cryptoquant\">Cointelegraph<\/a>.<\/figcaption><\/figure>\n<p>Bill Barhydt, CEO of Abra Global, highlighted the sharp increase in the global money supply. He is confident that Bitcoin will reach $130,000-140,000 by the end of June.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Bitcoin: 130-140k<br \/>altcoins: significantly higher gains<br \/>tech stocks\u2026 <\/p>\n<p>It oughtta be a A mid summer night\u2019s dream. <a href=\"https:\/\/t.co\/5IWWHlLajc\">pic.twitter.com\/5IWWHlLajc<\/a><\/p>\n<p>\u2014 Bill Barhydt (@billbarX) <a href=\"https:\/\/twitter.com\/billbarX\/status\/1910443243222995379?ref_src=twsrc%5Etfw\">April 10, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Previously, Real Vision&#8217;s chief analyst Jamie Coates also <a href=\"https:\/\/forklog.com\/en\/news\/jpmorgan-bitcoins-status-as-digital-gold-diminishes\">identified<\/a> June as a target for the first cryptocurrency&#8217;s price rally, during which it will reach a new all-time high.<\/p>\n<p>Former BitMEX CEO Arthur Hayes <a href=\"https:\/\/forklog.com\/en\/news\/arthur-hayes-predicts-bitcoin-surge-amid-yuan-weakness\">stated<\/a> that new US tariffs could trigger a capital shift into digital gold.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin faces resistance at $84,000 and $96,000, with support at $80,000. The growth of the global money supply sets the stage for a potential bull run. In the short term, recession fears in the US economy could pressure prices. Anticipating a bullish impulse in the leading cryptocurrency is premature due to the risk of renewed [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":22946,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1584,1146,1205,1145,1150],"class_list":["post-22947","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-10x","tag-cryptocurrency-market-forecasts","tag-cryptoquant","tag-market-analysis","tag-news-plus"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/22947","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=22947"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/22947\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/22946"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=22947"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=22947"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=22947"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}