bullish

Bitcoin

Markus Thielen, founder of crypto research firm 10x Research, said that Bitcoin is trading above its 7-day and 30-day moving averages.
The crypto king has a dominance +60%. He called this a bullish sign for the short and medium term.
Thielen put his <a href="https://x.com/markus10x/status/2050757391663456323" rel="noopener noreferrer nofollow">analysis</a> on X on May 3. He said that Bitcoin went up by 1.1% in the last week.
He added that continued institutional buying and large corporate treasuries building up their holdings were two things that helped keep the market confident.
The rally coincided with the Bitcoin 2026 conference in Las Vegas, where prices went up to $79,500.
But the move hit the well-known “buy the rumor, sell the news” pattern, and the market fell back into a short period of consolidation after that.
<h3 id="is-washington-preparing-a-strategic-bitcoin-reserve">Is Washington preparing a strategic Bitcoin reserve?</h3>
Thielen also said that White House advisers had hinted at an upcoming announcement about national strategic reserves.
He said that the possibility of a policy-level commitment to <a href="https://www.cryptopolitan.com/bitcoins-weekend-fragile-market/" rel="noopener noreferrer nofollow">Bitcoin</a> made people more positive about the market as a whole.
Thielen said that with Bitcoin’s market share over 60%, “a small group of altcoins is quietly bottoming out with real catalysts behind them.”
Privacy coins, which he said are becoming more popular with institutions, and projects related to real-world asset (RWA) infrastructure, are worth keeping an eye on.
RWA protocols turn traditional financial instruments like bonds, stocks, and real estate into digital tokens that can be used on blockchain networks.
Thielen’s analysis shows that these sectors might be able to attract capital once Bitcoin’s consolidation phase is over.
The 10x Research <a href="https://signal.10xresearch.com/p/crypto-trends-chartbook-several-altcoin-opportunities-as-trend-remains-bullish" rel="noopener noreferrer nofollow">report</a> said that the opportunity was less about the headlines and more about what was going on behind them.
Bitcoin’s price is above its short- and medium-term moving averages, which keeps the trend going in the near term.
However, the post-conference consolidation suggests that traders are waiting for a new reason to buy.
One possible announcement from the White House about strategic reserves could be one.
Thielen’s altcoin picks, especially in privacy and <a href="https://www.cryptopolitan.com/tokenized-rwas-on-solana-break-above-2b/" rel="noopener noreferrer nofollow">RWA</a> infrastructure, should be watched to see if institutional flows follow his thesis.
Bitcoin is currently trading at $78,379.50 according to <a href="https://www.coingecko.com/en/coins/bitcoin" rel="noopener noreferrer nofollow">data</a> from CoinGecko. The coin is up by 17.3% in the past 30 days.
BTC remains in the green zone on the daily and weekly timelines. The fear and greed index is finaly hovering at neutral after weeks of negative market sentiment.
There’s a middle ground between leaving money in the bank and rolling the dice in crypto. Start with this free video on <a href="https://www.cryptopolitan.com/defi-passive-income-training-video/?utm_source=syndication&amp;utm_medium=inlineads&amp;utm_campaign=defioptin" rel="noopener noreferrer nofollow">decentralized finance</a>.

Bitcoin dominance tops 60% as price holds major moving averages

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