Bitcoin (CRYPTO: BTC) may already be exiting its bear market phase, according to 10x Research head of research Marcus Thielen.
He says the market is shifting “from red to orange” as selling pressure fades and liquidity conditions gradually improve.
Gradual Accumulation, Not Defensive Positioning
In an interview on May 11, Thielen argued that what the biggest factor traders are missing is not aggressive buying demand, but the lack of sellers left in the market.
He said Bitcoin currently requires “very little money” to move higher because forced liquidations and heavy outflows have largely already played out.
The analyst pointed to several improving signals:
- Consecutive months of positive regime-model readings
- Slowing Bitcoin outflows compared …