10x Research Founder: Bitcoin Could Reach $90,000 by Year-End

TechFlow reported on November 4 that, according to a Cointelegraph interview, 10x Research founder Markus Thielen is cautiously optimistic about Bitcoin reaching $90,000 by year-end, but expects the price may first fall to the mid-to-high $70,000s before rebounding by year-end.

Thielen believes Bitcoin will outperform Ethereum, partly because much of the value in the Ethereum ecosystem is flowing to Layer 2 and network usage provides insufficient returns to token holders. He also said that, based on his analysis of 13F filings, out of approximately $60 billion in net inflows into spot Bitcoin ETFs, about $20 billion to $30 billion came from options market makers, with related holdings used as collateral for options trading.

Source: TechFlow