Search results for Markus Thielen
Crypto
BlackRock\'s BITA draws mixed reviews: high yield but limited upside
BlackRock listed BITA, a Bitcoin income ETF, on the Nasdaq, combining spot Bitcoin exposure with monthly cash distributions funded by option premiums. The fund holds spot Bitcoin and shares of iShares Bitcoin Trust (IBIT), selling covered calls on IBIT to generate income. Analysts and market participants debated whether the strategy can replace holding Bitcoin, citing higher fees, capped upside during sharp rallies and no downside protection during declines.
Crypto
Bitcoin dominance tops 60 percent as altcoin bottom calls emerge
Bitcoin continues trading above its 7-day and 30-day moving averages and its market dominance has climbed above 60 percent. Markus Thielen, founder of 10x Research, called this a short- to medium-term bullish signal, citing institutional buying and larger corporate treasury holdings. He pointed to the possibility of a U.S. strategic reserve announcement as a key variable. Thielen also said some altcoins appear to be forming a bottom.
Crypto
Bitcoin May outlook clouded by rate and war variables, risk of short-term range
Bitcoin weakened in late April, but May seasonality and continued inflows into U.S.-listed spot bitcoin ETFs are raising the prospect of further gains. Data since 2013 show bitcoin rose in May in 7 of the past 13 years, with an average return of about 8 percent. Still, higher U.S. Treasury yields and geopolitical risks are weighing on risk assets, and analysts see a higher chance of range-bound trading without a liquidity catalyst.
