10x Research: Downside risks for Nasdaq remain, Bitcoin could fall further

10x Research released a report stating that the recent Bitcoin spot ETF did not seize the opportunity to fall, but continued to flow out without significant inflows from stablecoins. The lack of buyers in this downturn is worrying and makes the market direction uncertain.Yesterday, it was noted that Bitcoin attempted to rebound, but emphasized the strong resistance in the range of $56,000 to $57,000, which hindered the rebound caused by the Bank of Japan's statement. However, the Bank of Japan did not press the rewind button, but only pressed the "pause" button because they may raise interest rates again. The key message we convey is that even if the market surpasses the hype of Japanese arbitrage trading news, downside risks still exist in the Nasdaq index, and Bitcoin may further decline.