Bitcoin Set to Plunge to $50,000, Experts Warn of Further Decline

Experts at 10x Research predict Bitcoin is set to fall below $57,000 from its current level of over $60,000 on July 4. They believe this sharp decline may just be the beginning, potentially dropping further to $50,000. This marks a significant shift in market sentiment, attributed to a decrease in buy flows and an acceleration in sell flows. Markus Thielen, an analyst at 10x Research, commented on the situation: “Our data from early June already hinted at an overbought market ripe for correction.” The sudden 5.44% fall in Bitcoin’s price has significantly impacted investor sentiment and market liquidity, with Bitcoin’s