According to BlockBeats, Markus Thielen, the founder of 10x Research, has estimated in his latest report that the average entry price for Bitcoin ETF buyers is between $60,000 and $61,000. He suggests that retesting this level could trigger a wave of liquidations.
Thielen stated that when Bitcoin fell to $56,500 on May 2, BlackRock claimed that 'sovereign wealth funds and pension funds' were about to enter the market, which helped to halt the decline. However, BlackRock now states that 80% of the funds invested in the IBIT ETF come from retail investors, not institutions.