Yahoo Crypto Market • October 7th 2026, 9:59 PM
10x Research Forecast Bitcoin Could Fall to $46,000, but What Really Happened?
Key Summary
A prominent analyst forecasted Bitcoin to fall to $46,000, but the market ignored his prediction. Despite the bear case's collapse, it's essential to understand where it went wrong, as this can provide insight into who's now quietly controlling the market. Bitcoin's 2026 low was $57,717, and the market has surged 49% to $86,000, disproving Thielen's claim of a lack of buyers.
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Understanding the Bear Case
A prominent analyst, Markus Thielen of 10x Research, made two forecasts about a potential Bitcoin bottom during the summer of 2026. However, Bitcoin never dipped to those levels.Where Did the Bear Case Go Wrong?
Thielen's forecast was based on a strong US dollar and a hawkish Federal Reserve, which was expected to keep interest rates high to combat inflation. However, the market ignored this prediction.The Rise of ETFs
Bitcoin exchange-traded funds attracted about $6.3 billion in the third quarter, disproving Thielen's claim that no real buyers existed. The influx of funds correlated directly with Bitcoin's performance.The Importance of Macro Economic Factors
We still need to evaluate Thielen's calls about the dollar and the Federal Reserve. Bitcoin's price rise has been influenced by various macroeconomic factors, including the US dollar and interest rates.#Bitcoin#US#Crypto#SEC