10x Research: Bitcoin's $63,000 as the boundary between the bottom and the crash

The research institution 10x Research published that Bitcoin's current price of about $63,000 is a critical level that will determine whether market sentiment trends towards a bottom or a collapse. Bitcoin had been fluctuating narrowly around $60,000 for six months before the 2024 U.S. election, and this level also served as the top construction area of the 2021 cycle. After Trump's victory confirmation, Bitcoin quickly rose from $70,000 to $90,000, briefly falling below $90,000 during the tariff impact in April 2025, but due to most holders still being in profit, the trading during this pullback was light.

10x Research stated that due to the very low turnover in the $70,000 to $90,000 range, it warned in November 2025 that if it fell below $93,000, Bitcoin could experience a sharp decline, as there was almost no supply to slow the decline from that range down to around $65,000, and the subsequent downward trend confirmed this judgment. Currently, Bitcoin is once again consolidating in the $60,000 area for about six months, but during this period, the actual distribution of turnover chips has significantly changed, which has a substantial impact on the next movement of this position. The institution will further elaborate on the importance of this level, the role of exchange balances, and the timing of leveraged traders possibly returning to the market.