10x Research founder: BTC holds above short- and mid-term moving averages, dominance above 60% signals bullish trend
According to ChainCatcher, Markus Thielen, founder of 10x Research, posted on X that Bitcoin has now broken above its 7-day and 30-day moving averages, and both the short- and medium-term trends remain bullish. Over the past week, it has risen by 1.1%. Continued institutional buying and large corporate treasuries increasing their Bitcoin holdings have further boosted market confidence. However, following the historical pattern of "selling on the news," the market subsequently experienced a brief consolidation.
Markus Thielen also pointed out that with Bitcoin dominance remaining above 60%, some altcoins are quietly establishing a bottom, catalyzed by fundamental factors—particularly privacy coins and projects related to RWA infrastructure, which are worth special attention. Additionally, market news such as hints from White House advisors about an upcoming announcement on national strategic reserves are further reinforcing the bullish sentiment.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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