Will Bitcoin dip below $50K?On today's Markets Outlook, 10x Research Founder and CEO Markus Thielen tells CoinDesk's Jennifer Sanasie why he sees Bitcoin dropping even more before recovery, with $7B in ETF outflows since mid-May and MicroStrategy stepping back as the last real buyer. Plus, why he stays bearish on Ethereum, why he's calling Hyperliquid overvalued, and why nothing turns around until the Fed goes dovish.-Timecodes:-This episode is brought to you by RealFi, a smarter stablecoin, backed by real-world assets. Find out more at realfi.co.-Ledn provides a secure and transparent way to access liquidity while maintaining your bitcoin holdings.Perfect 8 year track record of keeping clients assets safe.Don't sell your bitcoin. Get a bitcoin-backed loan.Check out your rate by using their loan calculator at ledn.io-JPEG Trading is a global proprietary trading firm specializing in cryptocurrency and decentralized finance markets. From market structure and liquidity provision to quantitative trading strategies, JPEG Trading operates across the full spectrum of blockchain-based assets. Follow @jpegtrading on X to stay ahead of the latest developments in digital asset markets: https://x.com/jpegtrading-This episode was hosted by Jennifer Sanasie.