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10x Research Founder: BTC stabilizes above short- and medium-term moving averages, dominance exceeds 60%, signaling a bullish outlook
ME News Report, May 3rd (UTC+8), 10x Research founder Markus Thielen posted on the X platform that Bitcoin has now surpassed the 7-day and 30-day moving averages, with short- and medium-term trends remaining bullish. The recent week saw a 1.1% increase, and news of institutional continuous buying and large corporations increasing their Bitcoin reserves further boosted market confidence. However, influenced by the historical pattern of “selling after good news,” the market experienced a brief consolidation afterward. Markus Thielen analyzed that, with Bitcoin dominance maintaining above 60%, some altcoins are quietly bottoming out driven by fundamental catalysts, especially privacy coins and projects related to RWA infrastructure, which are worth paying close attention to. Additionally, the White House advisor’s hint at upcoming announcements regarding national strategic reserves and other market news are reinforcing the bullish sentiment. (Source: ChainCatcher)