Wall Street Ended Bitcoin’s Wild Rallies, Says Markus Thielen
Ecosystem
English | News | Latest News
Bitcoin | Ethereum | Altcoins | Blockchain | Regulation | Markets | Features | Magazine | Reviews | Research | Opinion | Podcasts | Newsletters | Commissioned Articles | Press Releases | Special Projects
About | About Cointelegraph | History of Cointelegraph | Editorial Policy | Ads Disclosure | Financial Risk Disclaimer
Market Data (as of Nov 3, 2026):
- DOGE: $0.07515 (+0.16%)
- TRX: $0.3228 (+1.14%)
- LINK: $11.08 (-1.03%)
- ZEC: $1,195.03 (-3.79%)
- ADA: $0.1900 (+0.04%)
- XRP: $1.27 (+2.15%)
- ETH: $2,289.87 (+0.90%)
- BTC: $77,487.03 (+0.11%)
- XMR: $620.33 (+3.05%)
- BNB: $699.17 (-0.44%)
- XLM: $0.1637 (-2.16%)
- SOL: $93.24 (-0.10%)
- HYPE: $86.41 (+1.12%)
Written by:
- Yohan Yun, staff editor
- Andrew Fenton, staff editor
Wall Street Killed Bitcoin’s Wild Rallies: 10x’s Markus Thielen
Magazine
Published: Nov 3, 2026
Markus Thielen, founder of 10x Research, predicts Bitcoin reaching $90,000 by year-end. He questions the institutional demand for ETF's and suggests Ethereum needs to do more for its holders.
Bitcoin’s Days of Double-Digit Spikes are Over:
According to Thielen, Wall Street traders and "whales" (large investors) are reshaping Bitcoin's market dynamics. Institutional traders selling call options during rallies have made Bitcoin's previous explosive price movements less frequent.
In the latest episode of Cointelegraph’s Trade Secrets, Thielen explains:
-
Institutional Involvement: Market makers account for a significant portion of the $60 billion in net spot Bitcoin ETF inflows he analyzed. These firms hold ETF shares to hedge options trades, not necessarily indicating a bullish bet on Bitcoin's price.
-
Promoters and Cycles: Thielen observes that each crypto cycle attracts different promoters, and consequently, different types of investors. This time, Wall Street plays a prominent role.
-
Future Price Movement: He predicts Bitcoin will experience quick gains following news events, followed by a period of "crab walking" (slow, sideways movement) before the next significant macro event.
Bitcoin’s Year-End Projection:
Thielen remains bullish on Bitcoin, forecasting a potential reach of $90,000 by year-end. He suggests a dip into the mid-$70,000s could occur first.
Comparing Cycles:
He draws parallels between the current recovery and the bounce back from around $20,000 to $30,000 in early 2023, cautioning against missing the potential for another price drop.
Federal Reserve’s Impact:
Thielen's projection is partially contingent on the Federal Reserve's future interest rate decisions. The Fed raised rates by a quarter point in September and held steady in October, indicating a potential for further rate hikes.