10X Research says Bitcoin has entered a 'bull market trend'
On Sunday, 10X Research pointed out that technical indicators show 'Bitcoin has entered a bull market trend'.
The cryptocurrency declined in December and has now fallen for the third consecutive month — a situation that has only occurred 15 times in history, often setting the stage for Bitcoin's rise in January.
Sean Farrell, head of digital assets at Fundstrat, said late Monday: 'The opportunity for a tactical rebound is high.'
Farrell believes that the expansion of the Federal Reserve's balance sheet, along with a decline in the Treasury General Account (TGA), which is similar to the U.S. government's checking account, are both positive signals for Bitcoin.
Farrell said: 'We are seeing improvements in liquidity, improvements in capital flows, and finally, several days of relative outperformance compared to the stock market.'
The strategist believes that under certain scenarios, Bitcoin could test the range of $105,000 to $106,000; however, his base case remains that prices may experience a significant pullback in the first half of the year, followed by a steady rebound through the end of 2026.
On Sunday, 10X Research pointed out that technical indicators show 'Bitcoin has entered a bull market trend'.
The cryptocurrency declined in December and has now fallen for the third consecutive month — a situation that has only occurred 15 times in history, often setting the stage for Bitcoin's rise in January.
Sean Farrell, head of digital assets at Fundstrat, said late Monday: 'The opportunity for a tactical rebound is high.'
Farrell believes that the expansion of the Federal Reserve's balance sheet, along with a decline in the Treasury General Account (TGA), which is similar to the U.S. government's checking account, are both positive signals for Bitcoin.
Farrell said: 'We are seeing improvements in liquidity, improvements in capital flows, and finally, several days of relative outperformance compared to the stock market.'
The strategist believes that under certain scenarios, Bitcoin could test the range of $105,000 to $106,000; however, his base case remains that prices may experience a significant pullback in the first half of the year, followed by a steady rebound through the end of 2026.