10x Research: Bitcoin bottom is near despite strong dollar headwinds

Bitcoin is reacting negatively to the strong U.S. dollar, but a market bottom is not far off, according to an analysis by 10x Research posted on X. Markus Thielen, an analyst at the firm, explained that the global liquidity (M2) indicator, which the crypto community has used as a basis for bullish sentiment, has been misused by the market. He said that 10x Research's own analysis showed the indicator flashed a buy signal in early March and a sell signal at the end of April. Thielen added that taking into account the dollar index's movements, global liquidity, and various macroeconomic factors, he anticipates a BTC bottom is near.