Markus Thielen, founder of crypto analysis firm 10x Research, has emphasized that Bitcoin is currently trading above both its seven-day and thirty-day moving averages. In an environment where Bitcoin’s market dominance has surpassed 60 percent, Thielen views this as a powerful bullish signal in the short and medium term. Sharing his analysis on May 3 via social media, Thielen highlighted that Bitcoin gained 1.1 percent in value over the past week.
Short-term surge and institutional demand
Bitcoin’s recent upward momentum coincided with the Bitcoin 2026 conference held in Las Vegas. During this period, the cryptocurrency surged to a new all-time high of $79,500. According to data from CryptoAppsy, Bitcoin’s current price stands at $78,379.50, reflecting a remarkable 17.3 percent increase over the last 30 days.
Thielen cited the accumulation of Bitcoin by major institutional investors and corporate treasuries as a key force supporting market confidence. Following the conference, a brief period of price consolidation emerged, exemplifying the classic “buy the rumor, sell the news” market behavior. Investors appear to be waiting for a fresh catalyst before making their next moves.
“Ongoing institutional buying and increased holdings by large company treasuries have helped maintain market confidence,” explained Thielen.
Strategic reserve talk from Washington
According to Thielen, White House advisors have hinted at the possibility of a national-level strategic Bitcoin reserve announcement. Even the suggestion of such a political commitment has helped sustain positive market sentiment. Thielen underscored that a potential statement by the government could serve as a powerful catalyst driving these optimistic expectations.
In its latest report, 10x Research draws attention to developments taking place behind the scenes, arguing that these may offer more compelling opportunities than headline news. While Bitcoin maintains market share above 60 percent, a handful of altcoins are also beginning to show signs of rebounding from recent lows.
Privacy coins, real-world assets, and the outlook for altcoins
Thielen notes that privacy-focused coins and real-world asset (RWA) infrastructure projects have started to attract significant interest from institutional investors. RWA protocols tokenize traditional instruments like bonds, equities, and real estate, making them accessible on blockchain networks. After Bitcoin completes its consolidation phase, these sectors are expected to become magnets for new capital inflows.
Analysis suggests that institutional fund flows concentrating on privacy and RWA infrastructure could set these segments up as potential leaders in the coming period. Meanwhile, Bitcoin continues to “trade in the green” on daily and weekly charts, and the fear and greed index has finally moved closer to a neutral zone for the first time in a long while.
“If Bitcoin, currently holding over 60 percent market share, exits its consolidation phase, privacy-focused coins and real-world asset projects could witness fresh inflows of capital,” Thielen commented.
It was also noted that whether institutional investors will shift significantly towards the sectors Thielen highlighted should be closely monitored in the coming period.
