According to BlockBeats, Markus Thielen, the founder of 10x Research, has suggested that Bitcoin appears to be following a double top pattern technically and is currently testing its support level. Unless this pattern fails, it should be our basic assumption. This pattern could easily lead to a price drop to $50,000, or even $45,000.
Thielen added that despite the potential positive impact of the US elections and the Consumer Price Index later this year, the price could still experience a steeper pullback. It's important to note that these are predictions and actual market performance may vary. The cryptocurrency market is known for its volatility, and investors are advised to do their own research before making any investment decisions.