Bitcoin Could Drop to $73,000 ... Now Is the Time for Caution – 10X Research's Markos Tilne

# Bitcoin Declines 25% From All-Time High; Caution Advised By Jang Doseon, Special Correspondent, New York Bitcoin has fallen approximately 25% from its record high earlier this year, but investors should hold off on buying the dip due to potential further declines, according to Marcus Thielen, founder of 10X Research. In a report released on the 11th (local time), Thielen advised digital asset market investors to proceed with caution. He made this warning through CoinDesk, noting that a conservative approach is advisable given the current market dynamics. Thielen has been noted for accurately predicting recent corrections in the cryptocurrency market. He draws parallels between the current situation and past events, suggesting that just as the speculative bubbles in DeFi (Decentralized Finance) and NFTs (Non-Fungible Tokens) burst post-2021 bull market, the meme coin market is now undergoing a similar collapse. Thielen highlighted that the meme coin downturn has significantly impacted Solana and many associated tokens. "This structural decline indicates that the market’s foundation is weakening, and now is a time for caution, not optimism," Thielen emphasized. He pointed out that Bitcoin is gradually moving toward $73,000 but added, "Looking at past cases, the crypto market needs a new narrative to shift back to a strong upward trend." As of 1:42 PM New York time on the 11th, Bitcoin was trading at $81,078 on CoinMarketCap, up 3.31% over the past 24 hours. The overnight low during the Asian trading session was recorded at $76,624. Bitcoin has been in a corrective phase since reaching a new all-time high of $109,114 on January 20. *Photo Source: CNBC