10x Research: Stocks and cryptocurrencies on the verge of a 'significant' correction

PANews, April 16. According to Cointelegraph, Markus Thielen, founder of 10x Research, said in a research report on April 16 that the stock and cryptocurrency markets may be “about to reach a critical turning point,” leading to a significant price adjustment. . "We sold all of our positions last night," Thielen wrote, citing persistent inflation, fewer rate cuts and rising bond yields as reasons for his bearish outlook. "The main trigger is unexpected and persistent inflation," he wrote. "Given that the bond market currently expects fewer than three rate cuts and the 10-year Treasury yield will exceed 4.50%, a key point for risk assets may have been reached." turning point."

According to the research report, the reason for Bitcoin’s decline may be due to reduced expectations of upcoming interest rate cuts: “Much of Bitcoin’s rise in 2023/2024 was driven by expectations of interest rate cuts, and this claim is now being seriously challenged.” Thielen added , the company sold all technology stocks at the start of Monday's trading session; "We only hold a few high-conviction cryptocurrencies, and overall we are bearish on risk assets."