10x Research Founder: Bitcoin is expected to reach a target price of $88,000

Markus Thielen, founder of 10x Research, stated on social media, "Bitcoin is rising, primarily driven by spot demand rather than leverage, and this structure is healthier than the crowded long positions of the early cycle. ETF funds continue to flow in, mining-related stocks have surged, and the options market is pricing in a more optimistic outlook.

More importantly, there are two key catalysts this week supporting Bitcoin and the overall altcoin market. With improved trading volume and moderate fund inflows, our target of $88,000 for Bitcoin seems achievable. The current total market capitalization of the crypto market is $2.69 trillion, up 2.7% from last week; the average weekly trading volume is $123 billion, which is 2% higher than the average level."