While the leading cryptocurrency Bitcoin is stuck in the $60,000 to $65,000 range, it continues to search for a direction. The next movement of $BTC is being closely watched, and the latest analysis from 10x Research points to the $63,000 level.
Crypto research firm 10X Research stated that it considers the $63,000 level key for Bitcoin's recovery or further decline.
At this stage, Markus Thielen, founder of 10x Research, asserts that the current $63,000 price range is a decisive factor that will determine whether $BTC reaches a bottom or faces another sharp drop.
Thielen notes that a Bitcoin monthly close above the $63,000 mark could be an important technical signal for the market cycle. He suggests that such a close would return some cyclical indicators to positive territory, creating stronger grounds for exiting the bear market.
$63,000 Is a Critically Important Level for Bitcoin!
Thielen pointed out that $63,000 is not a simple level for $BTC. According to the analyst, Bitcoin traded sideways around $60,000 for about six months prior to the 2024 US presidential election. Furthermore, $BTC's initial peak in 2021 was also around $64,000.
Following Donald Trump's election victory, the price quickly rose from $70,000 to $90,000. At this stage, the analyst noted that trading volume in the $70,000–$90,000 range was low, leaving limited support for a further decline.
Recalling his previous warning that a break below $93,000 in November 2025 could trigger a sharp drop to $65,000, the analyst now states that the area around $60,000 is critical.
The analyst also noted that a significant amount of $BTC changed hands in the $60,000–$65,000 range, and that he considers $63,000 a critical threshold for determining whether Bitcoin confirms a bottom for its bear market.
However, risks remain if Bitcoin fails to hold above this level. Specifically, ETF inflows, institutional demand, US bond yields, and miner pressure are among the key risk factors for Bitcoin. Therefore, the analyst argues that besides keeping $BTC above $63,000, positive changes in the areas he considers risk factors are also necessary.
*This is not investment advice.
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