BTC monthly close above $63K would signal end of bear market: Thielen

10x Research founder Markus Thielen said a monthly close above $63,000 for BTC would confirm a bear-market bottom. He said BTC’s July close did not meet that threshold. On positioning, Thielen said he still favors long positions but plans to shift to a neutral stance if BTC breaks below key support levels and moving averages. He added that if the U.S. 10-year Treasury yield keeps rising, the Federal Reserve may need to resume rate hikes in September. Thielen also said miners pivoting to AI businesses hold around 100,000 BTC in potential sell-side supply, while liquidation moves by corporate Bitcoin treasury holders could add to selling pressure.