Bitcoin News Today: 10x Research Analysts Warn of Sideways Trading Despite Long-Term Bullish Hopes
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Apr 16
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Despite bullish predictions for Bitcoin to reach new all-time highs by June, analysts from 10x Research caution that short-term indicators signal a potential market top and an extended period of sideways movement.
Bitcoin Price May Be Entering a Consolidation Phase
According to 10x Research Head of Research Markus Thielen, Bitcoin’s recent momentum suggests the cryptocurrency is no longer a “parabolic long-only bet” but is instead entering a more mature phase of market behavior. In an April 14 market update, Thielen noted that on-chain and technical indicators reflect bearish or neutral sentiment, rather than early bull market characteristics.
Stochastic Oscillator patterns show signals consistent with a market top or late-cycle phase.
Bitcoin is trading around $83,810, up 32.8% year-on-year, but shows signs of slowing momentum.
“Bitcoin’s rally over the past year hasn’t been driven by ‘crypto-bro’ speculation,” Thielen wrote. “It’s largely due to long-term holders adopting a buy-and-hold diversification strategy.”
Bitcoin to Trade in $73K–$94K Range?
Thielen expects Bitcoin to consolidate between $73,000 and $94,000, echoing price behavior from 2024, when BTC hovered in a broad range after hitting highs in March. That pattern was interrupted only by major geopolitical and macroeconomic events, such as Donald Trump’s U.S. election win in November 2024.
“Short-term signals are diverging from long-term bullish outlooks,” said Thielen, emphasizing a more nuanced, finance-driven approach is now needed for navigating the market.
June Could Still Deliver a New All-Time High
While 10x Research projects a sideways range, other experts maintain a more optimistic tone:
Cory Klippsten, CEO of Swan Bitcoin, forecasts a 50%+ chance of breaking all-time highs before the end of June.
Timothy Peterson and Jamie Coutts have echoed similar views, citing underestimated momentum in the market.
BTC's current all-time high of $109,000, reached in January 2025, remains a key psychological and technical resistance level, according to Cointelegraph.
#BTC
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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