10X Research predicted in a report that Bitcoin could drop to $73,000, highlighting bearish trends in the crypto markets. The report draws parallels between the current market conditions and the end of the last bull market, citing macroeconomic uncertainties and a decline in key crypto narratives. Factors like the U.S. Federal Reserve's hawkish stance, potential trade wars, and global conflicts are contributing to waning investor confidence in cryptocurrencies and other risk assets. The report notes a significant decline in meme coins, which previously boosted market sentiment. Bitcoin saw a temporary rebound but remained down nearly 14% over the past month, significantly below its high of nearly $109,000 at the beginning of January. 10X emphasized the cyclical nature of the market, suggesting that softer speculative hype has contributed to current price trends as investor interest shifts.

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