Analysts at 10x Research predict a correction of BTC to $50 000
K33 Research believes that unstable market conditions will persist until October
10.07.2024 - 15:30
478
2 min
0
The material is not an investment recommendation and is published for informational purposes only.
What’s new? Over the past 24 hours, the total capitalization of the crypto market grew by 1,4% to reach $2,242 trillion, and the bitcoin rate again approached the $58 000 mark after the correction at the beginning of the month. However, according to Markus Thielen, the founder of the analyst firm 10x Research, although the growth may last for a while and bitcoin may return to $60 000, the rally will be short-lived.
What else is known? 10x Research expects bitcoin to approach $60 000 before falling back to $50 000. Vetle Lunde, senior analyst at K33 Research, also notes, citing historical data, that bitcoin always shows the lowest returns in Q3.
Lunde noted that in this cycle, the historically weak quarter coincided with the sale of confiscated bitcoins by the government of Saxony, part of Germany, and the distribution of bitcoins and Bitcoin Cash (BCH) to customers of Mt.Gox, the crypto exchange that went bankrupt a decade ago.
Authorities in the US, UK, Germany, and El Salvador collectively hold $18 billion worth of BTC
Three of the four countries obtained the coins through seizures as part of criminal investigations
K33 Research estimates that the market will have to absorb between 75 000 and 118 000 BTC sold by Mt.Gox authorities and customers over the summer, worth between $4,3 billion and $6,8 billion at current prices.
“We expect these flows to burden performance in the months to come and the choppy market conditions to last until October,” Lunde said.
Useful material?
Telegram 
Twitter Incidents
In a single week, hackers went after PHP websites, the Railway cloud platform and a medical company, and experts started talking about a crisis that is only just beginning.
Oct 28, 2026
Incidents
In 104 minutes, the attacker emptied 1,404 addresses before validators halted the network and froze almost all of the loot.
Oct 19, 2026
Incidents
Developers warned of potential risks to bridges across the ecosystem and asked exchanges for assistance.
Jun 22, 2026
Incidents
The defendant helped move funds stolen through investment scams and earned at least $4 million for his role in the operation.
Jun 10, 2026
Incidents
The company is linking the incident to a compromised private key on a service wallet, rather than a smart contract exploit
May 22, 2026
Incidents
Following the incident, the project temporarily halted trading operations and node activity.
May 15, 2026
Cryptocurrency rates
-
Bitcoin
$75 849
BTC
+0.14%
-
Ethereum
$2 230.23
ETH
-0.14%
-
BNB Smart Chain
$696.83
BSC
+0.09%
-
Ripple
$1.42
XRP
+1.04%
-
TRON
$0.320034
TRX
-0%
-
Zcash
$1 258.94
ZEC
-0.53%
-
Dogecoin
$0.071172
DOGE
-0.78%
-
Cardano
$0.218269
ADA
+2.11%
-
Stellar XLM
$0.184461
XLM
+2.83%
-
Polkadot
$3.32
DOT
+5.27%