10x Research Founder: BTC stabilizes above short- and medium-term moving averages, dominance exceeds 60%, signaling a bullish outlook

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Golden Finance reports that on May 4th, Markus Thielen, founder of 10x Research, posted on X platform stating that Bitcoin has now surpassed the 7-day and 30-day moving averages, with short- and medium-term trends remaining bullish. The recent one-week increase of 1.1%, along with continued institutional buying and large corporate treasury holdings increasing Bitcoin, further boosted market confidence. However, influenced by the historical pattern of “selling after good news,” the market experienced a brief consolidation afterward.
Markus Thielen analyzed that a White House advisor hinted at the imminent announcement of important news regarding national strategic reserves, which also reinforced the market’s bullish sentiment. Against the backdrop of Bitcoin dominance remaining above 60%, some altcoins are quietly bottoming out driven by fundamental catalysts, especially privacy coins and projects related to RWA infrastructure that warrant close attention.

BTC0.28%
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