10x Research stated that the Bitcoin trend model has turned bearish, with the current key bullish-bearish divide at $76,088. It noted that the "never sell" narrative around MicroStrategy is weakening, as Saylor hinted the company may sell a portion of its 843,000 BTC holdings, prompting $2.7 billion in net outflows from Bitcoin ETFs since May 7. Meanwhile, Ethereum’s market share has fallen below 10% for the first time since July 2025, and Bitmine shareholders have incurred $8 billion in losses due to their ETH bets. 10x Research also highlighted that the market is mispricing the impact of inflation on Bitcoin returns, with implied volatilities for both Bitcoin and Ethereum currently at historical lows.
10x Research: Bitcoin Trend Model Turns Bearish, Key Level at $76,088
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Summary
10x Research reports that Bitcoin’s trend model has shifted to bearish, with the critical $76,088 level now separating bullish momentum from bearish pressure. MicroStrategy’s “never sell” stance appears to be weakening, as Saylor hinted at selling a portion of the company’s 843,000 BTC, triggering a $2.7 billion outflow from Bitcoin ETFs since May 7. Ethereum’s market share has fallen below 10% for the first time since July 2025, while ETH staking losses for Bitmine shareholders reached $8 billion. Both Bitcoin and Ethereum are showing implied volatility at historical lows, suggesting a mispricing of inflation’s impact on returns.
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