TechFlow news, cryptocurrency research firm 10x Research has released new analysis indicating that the Bitcoin market is at a critical juncture. Bitcoin is expected to break above the $60,000–$70,000 range, but a new support level has yet to form, with resistance remaining strong around $56,000–$57,000.
The firm noted that additional sell-offs by Jump Trading on Wednesday drew attention, while Ethereum continues to face liquidation pressure. Recent outflows from Bitcoin spot ETFs and lack of significant inflows into stablecoins have raised concerns over absent buyer demand.
Japan's central bank policy shift is described as a "pause" rather than a "reversal," leaving room for potential rate hikes ahead. Meanwhile, downside risks in Nasdaq could lead to further declines in Bitcoin.
10x Research advises investors to remain cautious and closely monitor market developments and macroeconomic factors.
