10X Research Warns of Further Crypto Declines, Predicts Bitcoin Drop to $73K

Crypto Downtrend Deepens as Bitcoin Targets $73K, Warns 10X Research

As the crypto market experiences another major sell-off, investors are asking: Is it safe to re-enter? For those still holding cash, the answer remains unclear.

Markus Thielen, head of 10X Research, has been bearish throughout this downturn and believes it’s still too early to buy the dip.

Thielen compares the current decline to the collapse of the DeFi and NFT bubbles after the 2021 bull market—a downturn that dealt a lasting blow to Ethereum (ETH). This time, he notes, memecoins have suffered a similar fate, dragging down Solana (SOL) and other associated tokens.

“This structural weakness suggests the market’s foundation is eroding, meaning caution—not complacency—is key,” Thielen wrote in his Tuesday report. “Bitcoin (BTC) is likely heading toward $73,000… and history shows that any meaningful rebound will require a new catalyst.”