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Bitcoin Trajectory Diverges from Earlier Bearish 10x Research Projections

Bitcoin rallied toward $86,000 following a summer low, bypassing bearish mid-year price forecasts issued by 10x Research.

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In June and July 2026, Markus Thielen of 10x Research published projections calling for Bitcoin to drop to $55,000, and later to a range between $46,000 and $47,000. These forecasts relied on macroeconomic headwinds, including a strong US dollar, expectations of restrictive Federal Reserve policy under Chair Kevin Warsh, Elliott Wave technical charting, and slowing spot ETF inflows alongside reduced buying from Strategy.

However, Bitcoin reached a low of $57,717 on June 30 before rebounding nearly 49% to trade around $86,000 as of October 7. The anticipated drop into the mid-$40,000 range failed to materialise as ETF demand revived.

While Bitcoin gained about 8% over the past month, the asset remains down roughly 30% year-on-year and sits 32% below its all-time high of $126,080 recorded in October 2025.

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