What's Bitcoin's Next High? On-Chain Data Reveals Surge Coming | Markus Thielen

Watch on YouTube ↗  |  January 27, 2025 at 04:56  |  40:51  |  The David Lin Report
Speakers
Marcus Thielen — Founder & CEO, 10X Research

Summary

Markus Thielen, CEO of 10x Research, discusses his bullish Bitcoin outlook, targeting $122,000 short-term and $130,000-$190,000 this cycle based on seasonality, on-chain data, and institutional inflows. He also sees a likely US strategic Bitcoin reserve as a legitimizing catalyst, expects gold and Bitcoin to rise together, and identifies XRP as a potential beneficiary of a broader crypto reserve. He is not concerned about a near-term crypto top, though he notes Fed hawkishness and regulatory/on-ramp issues as key risks.

  • Bitcoin short-term target around $122,000, with on-chain models projecting $130,000-$190,000 this cycle.
  • Chinese New Year seasonality and $16,000 range increments are cited as near-term catalysts.
  • A US strategic Bitcoin reserve is viewed as likely and positive for Bitcoin adoption.
  • Gold and Bitcoin are both expected to rise, supported by central-bank and Chinese demand.
  • XRP may benefit from a broader crypto reserve and remittance use case.
  • Stablecoin growth could cap Treasury yields and support bonds.
  • Fed hawkishness and Operation Chokepoint 2.0 are discussed as risks, but no major top is expected.
Ideas
Marcus Thielen Founder & CEO, 10X Research 0:39
Bitcoin can grind higher, targets $122K-$500K.
Bitcoin is in a bull market that can grind higher. The last 12 months moved in roughly $16,000 increments, implying the next range is about $122,000; Chinese New Year seasonality has historically been strong; and on-chain data models project at least $130,000-$190,000 this cycle. The old four-year up/down cycle may weaken because Wall Street/institutional inflows have reduced volatility and large buyers support dips; longer term, Bitcoin could reach about $500,000 if it captures gold's store-of-value market.
BTC HIGH
Marcus Thielen Founder & CEO, 10X Research 17:00
Gold likely rises on central-bank, China demand.
Both gold and Bitcoin are likely to rise. Gold is supported by strong money-supply growth since COVID, massive Chinese buying to diversify FX reserves, Basel III zero-risk treatment, Chinese individual demand amid yuan weakness, and central bank/retail demand.
GLD HIGH
Marcus Thielen Founder & CEO, 10X Research 31:25
XRP reserve, remittance use case bullish.
XRP could be included in a broader US crypto strategic reserve, and its use case in the huge remittance market as a Ripple transaction currency is a reason XRP has been rallying.
XRP MED
Marcus Thielen Founder & CEO, 10X Research 33:12
Stablecoin demand caps yields, supports Treasuries.
Stablecoin growth creates structural demand for US Treasuries as collateral, which should cap yields and support Treasury prices, although the speaker notes the effect depends on flow size and fair value is uncertain.
TLT LOW
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This The David Lin Report video, published January 27, 2025, features Marcus Thielen discussing BTC, GLD, XRP, TLT. 4 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Marcus Thielen  · Tickers: BTC, GLD, XRP, TLT