10x Research: Bitcoin's Fall to $60,000 May Trigger a Wave of ETF Liquidations
On July 3, 10x Research founder Markus Thielen said in his latest report that he estimates the average entry price for bitcoin ETF buyers to be between $60,000 and $61,000, and that a retest of that level could trigger a wave of liquidations, Coindesk reports.
When bitcoin fell to $56,500 on May 2, BlackRock claimed that 'sovereign wealth funds and pension funds' were about to enter, which helped stem the decline, but now BlackRock says 80% of the buying money in the IBIT ETF is coming from retail investors, not institutions," Markus Thielen said.
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