According to PANews, Markus Thielen, founder of 10x Research, stated in a recent report that despite a robust macroeconomic environment, Bitcoin is unlikely to reach $66,000. Thielen outlined several reasons for this projection.

Firstly, the current disconnect between the strong rebound in U.S. tech stocks and the underperformance of the cryptocurrency market has left traders puzzled. As previously reported by the agency, the surge in tech stocks contrasts with the sluggish crypto trading, aligning with the agency's expectations triggered by optimistic U.S. macroeconomic data released this week.

Secondly, macroeconomic factors or liquidity conditions are not the sole drivers of cryptocurrency market behavior. Internal market dynamics and underlying market structures are equally crucial in determining price trends. Understanding these elements is essential for predicting the future trajectory of cryptocurrency prices.

The agency anticipates that Bitcoin will fall back to a trading range of $50,000 to $60,000. The rebound following the August 5 crash is expected to stall near the resistance range of $60,000 to $61,000. This slowdown could reset oversold technical indicators, increasing the likelihood of Bitcoin retesting the August 5 low near $50,000—a move that could catch many off guard. While there are still profit opportunities in the cryptocurrency market, the timing is not ideal.

Lastly, the agency's predicted CPI increase of 2.9% was confirmed by the actual report. However, there is concern that even a lower CPI increase, though possible, would not be sufficient as a standalone basis for judgment. For the past four months, the agency has warned that the $60,000 to $70,000 range could form a top pattern, as indicated by monthly metrics.