About this episode

Markus Thielen discusses the potential for Bitcoin to dip below $50K and shares his bearish outlook on Ethereum and Hyperliquid.

Will Bitcoin dip below $50K? On today's Markets Outlook, 10x Research Founder and CEO Markus Thielen tells CoinDesk's Jennifer Sanasie why he sees Bitcoin dropping even more before recovery, with $7B in ETF outflows since mid-May and MicroStrategy stepping back as the last real buyer. Plus, why he stays bearish on Ethereum, why he's calling Hyperliquid overvalued, and why nothing turns around until the Fed goes dovish. - Timecodes: 00:00 Bitcoin Could Dip to $46K Before Year-End Rally 01:20 Bitcoin Falls Below $60K: What's Driving the Selloff? 02:37 $4.5B in ETF Outflows, Saylor's Bitcoin Sale, and Missing Catalysts 03:14 Why the Genius Act and CLARITY Weren't Real Catalysts 05:00 When Does the Fed Turn Dovish? The Macro Case for a Rally 05:19 Kevin Warsh Nomination Was the Turning Point for Bitcoin 07:27 Why Bitcoin Could Break Below $50K to $46–47K 09:41 The 2022 Parallel: Grayscale's SEC Win as the Sentiment Shift 11:06 Brand New Rails: Securitize Lists on NYSE 12:40 Where Does Bitcoin End the Year? 13:51 Why Markus Is Still Bearish on Ethereum 15:20 Stablecoin Activity Isn't Accruing to ETH Holders 16:40 The Bull Case for ETH Has Broken Down 17:28 Hyperliquid Overvalued at…

People in this episode

Host: Jennifer Sanasie

Guest: Markus Thielen

Topics covered

• Bitcoin price prediction
• ETF outflows
• Ethereum market analysis
• Macro economic factors
• Cryptocurrency investment strategies

Keywords

• Bitcoin
• Ethereum
• ETF outflows
• MicroStrategy
• market analysis
• cryptocurrency
• investment strategies

Sponsors

RealFi

Mentioned in this episode

Organizations: CoinDesk, MicroStrategy, Ledn

Products: Bitcoin, Ethereum, Hyperliquid

More episodes of Markets Outlook

• Inside the CASHCAT Bet That Paid $1.2 Million | Markets Outlook · July 16, 2026 · 28 min
• Ethereum Must Move Faster or Risk Losing Its Edge Says Starkware Founder | Markets Outlook · July 10, 2026 · 23 min
• Ethereum Is Facing A Critical Funding Gap, Says Ex-EF Member | Markets Outlook · June 25, 2026 · 18 min
• Why Arthur Hayes Says Fed Chair Kevin Warsh Is a Dove Despite Hawkish Reputation | Markets Outlook · June 19, 2026 · 11 min

Explore listener stats, chart rankings, contacts and more on the Markets Outlook podcast page.