Matrixport suggests shorting ETH; 10X Research predicts Bitcoin to drop to $59,000

Matrixport and founder of research firm 10X Research, Markus Thielen, do not have a positive outlook on the price trends of ETH and BTC in the short term.

10X Research: Bitcoin ETF Inflows Key

Matrixport analyst and founder of 10X Research, Markus Thielen, remains bullish on BTC's future in his latest report, highlighting the significance of ETF inflows and price support.

Farside Investors data shows the net inflows of Bitcoin over the past five days were:

• 3/11: $505 million

• 3/12: $1.045 billion

• 3/13: $683 million

• 3/14: $132 million

• 3/15: $198 million

The net inflows of the last two days are considered by many analysts as one of the reasons for Bitcoin's weekend drop.

Bitcoin Could Fall to $59,000

CoinDesk cites Markus Thielen's report, indicating that although Bitcoin is at $67,000, the real test will be during the opening of the US stock market on Monday and Tuesday. If ETF inflows disappoint, Bitcoin may continue to decline.

He stated:

While not a popular view, after significant price volatility, we expect inflows to slow down. According to our reversal indicator, there is a higher likelihood of a pullback to $59,035, suggesting a further 10% drop in BTC price.

10X Research: Bitcoin to Rise After Dropping to 63K, Altcoins and Meme Coins Likely Topping in the Short Term