Analyst: Crypto-Related Stocks "Not Bearish Yet"

Markus Thielen, head of research at 10x Research, said the drop in crypto-related stocks such as Cipher Mining (CIFR), Mawson (MIGI), and Core Scientific (CORZ) following the ETF's approval is likely a short-term phenomenon, and that it's "not a bearish time" yet. It's not time to be bearish yet." Even if bitcoin ETF inflows disappoint, now is not the time to turn bearish as the macro environment will remain a tailwind in 2024 and the US election cycle will see a constructive fiscal response that will push asset prices higher," Markus Thielen wrote in a report.