Research firm 10x Research warns that Bitcoin could drop to $55,000 due to several bearish factors. A trend model followed by institutional investors indicates a downtrend, potentially leading CTAs to increase short positions amid low volatility. Weekly and monthly reversal indicators are signaling broader corrections, while political uncertainty and slowed institutional adoption further contribute to a negative outlook. Despite the launch of Bitcoin ETFs, inflows have significantly decreased after an initial surge earlier this year.

Macroeconomic factors, such as the Federal Reserve’s hawkish stance on interest rates and historical seasonal trends, also pose risks. The third quarter has traditionally been Bitcoin's weakest, with average returns of just 5%. Additionally, miner economics could pressure Bitcoin prices, as sustained trading below $60,000 might force miners to sell at a loss. The impending expiration of $10 billion in Bitcoin and Ethereum options could further increase volatility in the market.

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