Stocks and crypto at the edge of ‘significant’ correction: 10x Research
Risk assets could be at a tipping point, warns Markus Thielen, who announced selling all the company’s tech stocks as his outlook turned bearish.
The stock and cryptocurrency markets could be “ahead of a crucial tipping point” heading for a significant price correction, according to Markus Thielen, the founder of 10x Research.
“We sold everything last night,” wrote Thielen, citing persistent inflation, decreasing rate cuts and a rising bond yield as the reasons behind his bearish outlook. In an April 16 research note, the founder wrote:
The bearish research note comes after Bitcoin’s (BTC) price fell over 9.3% during the week to trade above the $63,400 level as of 9:15 am UTC, according to CoinMarketCap data.
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