10x Research Potential for Bitcoin to Reach New Heights if Price Surpasses 72000

10x Research stated in its latest market analysis report that if the price of Bitcoin climbs above $72,000, it may break new highs. However, overallocation to Ethereum (leveraged) futures may have a negative impact on Bitcoin, and Bitcoin is more favored than Ethereum (BTC fell 5% last week, ETH fell 9%). Comments from Gary Gensler, Chairman of the U.S. SEC, on the approval of Ethereum ETFs-1 may be more likely to start unwinding leveraged long positions, rather than repricing Wall Street’s rate expectations. Enthusiasm around Ethereum ETFs has significantly decreased, and the ETH/BTC exchange rate continues to decline.