10x Research Bitcoin Decline Not Over, Said, Gave Level: This Is Necessary for Rise! - Coin Bulletin

Experts who say that the decline in the cryptocurrency market is not over yet, warned investors to be cautious by stating that the Bitcoin (BTC) price could pull back to 73,000 dollars.

The recent decline in the cryptocurrency sector continues to worry investors. 10X Research analyst Markus Thielen warned that the current situation in the market is still risky, emphasizing that the bottom level has not been seen for Bitcoin yet.

According to Thielen, the previous bubble burst in the DeFi and NFT sectors in 2021 had deeply shaken Ethereum, and a similar situation is currently happening in the meme coin sector.

Thielen said that the recent collapse in meme coins has put heavy pressure not only on Solana (SOL) but also on many different tokens. Thielen, who stated that this structural decline weakens the overall strength of the market, reported that Bitcoin could experience a decline towards the $73,000 critical support level.

( A story is needed for the new rise

According to the analyst, for the price of Bitcoin to recover and start a strong uptrend again, a new and solid story that will inspire confidence in the market needs to emerge. Thielen, reminding that strong narratives were behind past uptrends, emphasized that investors need to act cautiously in the current uncertain environment.

Finally, Thielen advised investors to wait for the complete end of the downward trend without being deceived by short-term rises in the markets before making a decision.