Analysis: In the worst case, Bitcoin will drop to the range of $72,000 to $74,000

ChainCatcher news, in recent days, Bitcoin has recorded its largest three-day drop (-15%) since the FTX collapse. Markus Thielen, founder of 10x Research, stated in a report to clients on Wednesday that in the worst-case scenario, Bitcoin could drop to the range of $72,000-$74,000, followed by a potential rebound, and noted that there is a lag in the correlation between Bitcoin and global central bank liquidity indicators.

Markus Thielen identified a key level of $82,000 by analyzing the realized price of short-term holders, which is the average price at which addresses holding tokens for less than 155 days purchased BTC, indicating that the potential demand zone is around $82,000 (which has been reached).

Markus Thielen explained that historically, Bitcoin rarely stays below this level (the realized price of short-term holders) for an extended period during bull markets, while in bear markets, Bitcoin tends to remain below this level for a longer duration.