A leading crypto analyst advises investors to wait for Bitcoin to drop to the low $40,000s before buying, suggesting this could be the best entry point for the upcoming market rally.
Markus Thielen from 10x Research told Cointelegraph that targeting Bitcoin’s price in the low $40,000s might set up investors for the next major bull run. Bitcoin was last seen in this price range in early February.
Currently, Bitcoin is trading at $57,400, up 4.25% in the past 24 hours. Analysts including Timothy Peterson and Crypto Rover predict that Bitcoin could fall to $40,000 soon. David Gokhstein also views a potential drop to $40,000 or $50,000 as an ideal buying opportunity.
Thielen expressed doubts about holding Bitcoin long-term, noting that recent market volatility and the lack of high returns compared to U.S. stocks make it a less attractive option.
He recommends setting a stop-loss around $54,000 to manage risks, especially given the recent outflows from Bitcoin ETFs and their underperformance compared to their launch price.
Despite significant investments in Bitcoin ETFs, the cryptocurrency has recently fallen below $50,000, approaching its early 2023 levels.
Bitcoin is entering June with renewed strength as institutional appetite and fresh capital flows continue to shape its trajectory.
After more than four weeks of uninterrupted investor enthusiasm, BlackRock’s iShares Bitcoin Trust has reported its steepest daily outflow since its inception, signaling a potential shift in sentiment.
Pakistan’s aggressive embrace of Bitcoin mining has drawn scrutiny from the International Monetary Fund (IMF), which is now demanding clarity on the country’s allocation of 2,000 megawatts of electricity to digital assets and AI infrastructure.
A new analysis from China’s International Monetary Institute (IMI) suggests that Bitcoin is quietly gaining ground as a serious player in the global reserve system.