TechFlow reported, citing 10x Research's latest market report, that a combination of Bitcoin's long-term technicals, on-chain signals, flows—particularly miner inventory—and market structure data could, in the short term, outweigh bullish arguments stemming from the U.S. presidential election and potential rate cuts. Currently, Bitcoin has returned to the $60,000–$61,000 range, and a break below this level may trigger liquidations. Last weekend, a timely rebound amid extremely low trading volume led to multiple short squeezes; however, that upside risk has now diminished, while downside risks have materialized. 10x Research reiterated its medium-term view that the market is likely to see further downward correction.
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