TechFlow News, May 3: Markus Thielen, founder of 10x Research, posted on X stating that Bitcoin has currently crossed above both its 7-day and 30-day moving averages, maintaining bullish short- and medium-term trends. Its price rose 1.1% over the past week. Continued institutional buying and large corporations further accumulating Bitcoin in their treasuries have bolstered market confidence. However, following the historical pattern of “sell the news,” the market subsequently entered a brief consolidation phase.
Thielen analyzed that, against the backdrop of Bitcoin’s dominance remaining above 60%, certain altcoins are quietly bottoming out amid fundamental catalysts—particularly privacy coins and projects related to RWA infrastructure, which warrant close attention. Additionally, hints from White House advisors about imminent announcements concerning national strategic reserves and other market-related developments are further reinforcing bullish sentiment.
