Crypto News – Markus Thielen, the founder of 10x Research, believes that the stock and cryptocurrency markets may be approaching a critical turning point that will result in a large price drop.
We sold everything last night,
Thielen
Stocks and Crypto Are at a Crucial Crossroads, 10x Research Founder Says
He bases his pessimistic forecast on several factors, including ongoing inflation, declining rate cuts, and rising bond yields.
The primary trigger is the unexpected and persistent inflation. With the bond market now projecting less than three cuts and 10-year Treasury Yields surpassing 4.50%, we may have arrived at a crucial tipping point for risk assets.
Thielen
Bitcoin’s Decline May Be Due To An Expected Interest Rate Cut
The gloomy research report was released after CoinMarketCap statistics showed that the price of Bitcoin dropped by more than 9.3% during the course of the week, closing above $63,400. The research paper suggests that the decrease in anticipation of an impending interest rate cut could be the cause of Bitcoin’s slide.
Most of this 2023/2024 bitcoin rally is driven by expectations that interest rates would be cut, and this narrative is being seriously challenged now.
the research note
Thielen continued, saying that during Monday’s trading session, the business liquidated all of its tech stocks at the open.
We only hold a few high-conviction crypto coins. Overall, we are bearish risk assets.
Thielen
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