ChainCatcher report: 10x Research has announced that its Bitcoin trend model has turned bearish. It noted that the market narrative of Strategy (formerly MicroStrategy) “never selling Bitcoin” is beginning to waver. 10x Research stated that Michael Saylor recently hinted that the company may sell a portion of its 843,000 BTC holdings, a shift that has triggered approximately $2.7 billion in outflows from related Bitcoin ETFs.
10x Research Becomes Bearish on Bitcoin Amid Shift in MicroStrategy Narrative
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Summary
Bitcoin news emerged as 10x Research flagged a bearish trend in its updated Bitcoin model. The firm pointed to a shift in MicroStrategy’s long-standing position, with CEO Michael Saylor hinting at potential sales of the company’s 843,000 BTC. This could trigger $2.7 billion in outflows from Bitcoin ETFs tied to the company.
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