10x Research Founder: BTC Stabilizes Above Short and Medium-Term Averages, Dominance Over 60% Signals Bullish Outlook

On May 4th, Markus Thielen, founder of 10x Research, posted on X platform that Bitcoin has currently stabilized above the 7-day and 30-day moving averages, maintaining a bullish trend in the short and medium term, with a weekly increase of 1.1%. Continued institutional buying and major corporations increasing their Bitcoin holdings have further boosted market confidence. However, influenced by the historical pattern of ‘selling upon good news’, the market experienced a brief consolidation afterward. Thielen analyzed that hints from White House advisors about an upcoming announcement regarding national strategic reserves have also strengthened bullish sentiment in the market. With Bitcoin’s dominance remaining above 60%, some altcoins are quietly bottoming out under fundamental catalysts, particularly privacy coins and projects related to RWA infrastructure are worth paying close attention to.

BTC0.51%
RWA1.33%
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