Amid increasing market volatility, 10x Research predicts Bitcoin (BTC) could drop to $45,000. Markus Thielen from 10x Research highlights factors such as reduced active addresses and broader market shifts.
Despite BTC's all-time high of $73,750 in March, current trading is below $55,000. A significant fall in active addresses from 1.20 million in November 2023 to 612,000 marks waning interest.
Additional bearish signs include $1 billion ETF outflows and a weak US economy. Glassnode data shows the Mayer Multiple at 0.8, indicating further price decline risks.
If BTC fails to maintain support around $50,000, it could fall to $48,338 and potentially $45,000. However, a Mayer Multiple rise above 1 could restart a bullish trend, pushing Bitcoin beyond its previous high.
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