{"id":126968,"date":"2025-04-11T06:18:41","date_gmt":"2025-04-11T06:18:41","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=126968"},"modified":"2025-04-11T06:18:41","modified_gmt":"2025-04-11T06:18:41","slug":"bitcoiners-bullish-impulse-on-recession-may-be-premature-10x-research","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=126968","title":{"rendered":"Bitcoiners\u2019 \u2018bullish impulse\u2019 on recession may be premature: 10x Research"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsIt may be too early for Bitcoiners to start getting bullish over the longer-term impacts of a potential recession on Bitcoin\u2019s price, says 10x Research head of research Markus Thielen.<br \/>\nThielen said in an April 11 markets report that credit spreads continue to widen, indicating that \u201crecessionary concerns may be seeping deeper into the economy.\u201d<br \/>\n\u201cExpecting a bullish impulse is too early,\u201d he said.<br \/>\nBitcoin may face short-term headwinds<br \/>\nWhile the long-term effects of a recession could be bullish for Bitcoin (BTC) \u2014 due to the monetary easing that typically follows US Federal Reserve rate cuts \u2014 Thielen warned that Bitcoin may face headwinds before gaining bullish momentum.<br \/>\n\u201cNormally, Bitcoin first sells off when China devalues or the Fed cuts, as the first cut might not be so impactful and also confirms economic weakness,\u201d Thielen told Cointelegraph.\u00a0<br \/>\nBitcoin is trading at $80,620 at the time of publication. Source: CoinMarketCapWhite House crypto and AI czar David Sacks said in an April 10 X post that it is \u201ctime for a rate cut\u201d after the core Consumer Price Index increased 2.8% year-by-year for March, the lowest it has been since March 2021.<br \/>\nCME Group\u2019s FedWatch Tool shows a 64.8% chance of no rate cut at the Federal Reserve\u2019s May Federal Open Market Committee meeting.<br \/>\nTraders typically see interest rate cuts and monetary supply expansions as positively affecting asset prices, especially Bitcoin and other cryptocurrencies.<br \/>\nHowever, Thielen said that historically, when year-over-year credit spreads \u201cbegin to widen,\u201d Bitcoin often faces more downside pressure and takes longer to recover.<br \/>\nRelated: Bitcoin \u2018significantly de-risked here\u2019 as nearly 80% of cyclical price correction is done \u2014 Analyst<br \/>\n\u201cThis pattern suggests that while a longer-term opportunity may emerge, Bitcoin could still face pressure in the near term,\u201d Thielen said. He added that currency devaluations have also historically been bearish for markets in the short term before being bullish in the long term.<br \/>\nIt comes amid growing concern among market participants over the weakening US dollar.<br \/>\nThe US Dollar Index (DXY) is sitting at 100.048, down 2.92% over the past five days, according to TradingView data.\u00a0<br \/>\nThe DXY is sitting at 100.337 at the time of publication. Source: TradingViewTrading resource account, The Kobeissi Letter, said in an April 10 X post, \u201cThe US dollar has exited the room. Once again, something is broken.\u201d<br \/>\nMeanwhile, BlackRock\u2019s head of digital assets, Robbie Mitchnick, said in late March that Bitcoin would most likely thrive in a recessionary macro environment.\u00a0<br \/>\n\u201cI don\u2019t know if we\u2019ll have a recession or not, but a recession would be a big catalyst for Bitcoin,\u201d Mitchnick said.<br \/>\nMagazine: Memecoin degeneracy is funding groundbreaking anti-aging research<br \/>\nThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-bullish-impulse-recession-premature-crypto-analyst-forecast?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsIt may be too early for Bitcoiners to start getting bullish over the longer-term impacts of a potential recession on Bitcoin\u2019s price, says 10x Research head of research&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126968"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=126968"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126968\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=126968"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=126968"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=126968"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}