10x Research: The downside risk of Nasdaq still exists, and Bitcoin may decline further

ChainCatcher news, 10x Research released a report stating that the Bitcoin spot ETF has recently failed to capitalize on the downturn, instead experiencing continued outflows, with no significant inflows from stablecoins. The lack of buyers during this decline is concerning and has made the market direction unclear.

Yesterday, it noted that Bitcoin attempted to rebound but emphasized the strong resistance in the $56,000 to $57,000 range, which hindered the rebound triggered by the Bank of Japan's statement. However, the Bank of Japan did not hit the rewind button; they simply pressed the "pause" button, as they may raise interest rates again.

10x Research key insights highlight that even if the market surpasses the hype surrounding the Japanese arbitrage trading news, downside risks still exist in the Nasdaq index, and Bitcoin may decline further.