Markus Thielen, founder of 10x Research, says Bitcoin will no longer post consecutive double-digit price jumps. He names two forces behind the change: Wall Street traders and large holders taking profits. The interview ran in Cointelegraph Magazine on Nov 3, 2026, written by Yohan Yun and edited by Andrew Fenton.
Thielen also questions how much institutional demand there really is for Bitcoin ETFs. The article does not say what figures, if any, he uses to support that view.
His own year-end target for Bitcoin is $90,000. The price ticker on the article page showed BTC at $77,138.39, so the target is about 17% above that level. That number is Thielen's view, not a known outcome.
On Ethereum, Thielen says the network has to do more for the people who hold ETH. The ticker on the same page listed ETH at $2,267.02. The article excerpt does not say what he thinks Ethereum should change.
For someone already holding a perpetual position on Bitget, Bybit, MEXC or OKX, this changes nothing directly. The interview gives no figures on funding rates, trading fees or order-book liquidity, and one analyst's view on rally size does not change what a position costs to hold. Any effect on funding would have to show up in the rates themselves, and that is what this site tracks.
Source: cointelegraph — Wall Street killed Bitcoin’s wild rallies: 10x’s Markus Thielen