$94,000 Ceiling Looms as Bitcoin Hits a Wall, 10x Research Reports
Bitcoin BTC/USD is in a slump, and 10x Research’s Tuesday update doesn’t sugarcoat it. They’re calling it a mini bear market—weak vibes, no spark, and nothing new to push it up. They figure it’ll hover between $73,000 and $94,000 till something big changes.
Bitcoin’s below its $88,000 trend line, which 10x says is a make-or-break spot. It’s also under the 21-week average, a sign of long-term trouble. It hit $88,500 for a sec but crashed back.
Traders ditched at $93,000, making things worse. “On-chain data’s pretty clear—it’s a mini bear market,” 10x noted. No turnaround, no party.
Market’s Feeling Cold and Quiet
Risk appetite’s gone. Funding rates are flat, and retail’s out after meme token flops like Trump TRUMP/USD ate their cash. ETFs? Bleeding for two months. Hedge funds aren’t playing anymore—low rates killed the game. “No rate boost, no ETF rush,” 10x said.
Fed cuts might wait till September—economy’s too stubborn. Trump’s Bitcoin reserve idea? Cool story, but it’s not moving the needle.
Altcoins Fade, Bitcoin Stands Steady
Bitcoin’s still got some grit, outshining altcoins that are dropping fast. 10x’s model of market cap and dominance proves it. Tron TRX/USD and Toncoin TON/USD are bucking the trend—maybe some world events helping out.
For now, Bitcoin price predictions trapped at $73,000 to $94,000. “Market’s on thin ice,” 10x warned. They suggest selling options to play the range.
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